Dallas Police & Fire Pension System hired AQR Capital Management and PanAgora Asset Management to run global asset allocation strategies, confirmed spokeswoman Rebecca Shaw.
The hires and size of the allocations are pending negotiations. Invesco was also a finalist.
Investment consultant NEPC conducted the shortlist search.
The $3.2 billion pension fund has a target allocation to global asset allocation of 20%; it currently has about $330 million, or 10%, allocated to four managers: Bridgewater Associates, GMO, Putnam Investments and Transtrend. The allocation was increased to 20% last summer from 10%, with no terminations.
