Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund hired EPOCH Investment Partners and Pacific Investment Management Co. to run $125 million each in active global equities, confirmed Fadi BouSamra, chief investment officer.
The $2 billion pension fund has an existing target allocation of 10% to global equity but had not allocated money to any managers. Funding will come from rebalancing. No managers will be terminated.
Separately, the pension fund committed $30 million each to EIG Global Energy Partners XVI, a debt-oriented fund focused on the energy sector; PIMCO BRAVO II, a debt-focused opportunistic fund; and Sankaty Middle Market Opportunities Fund II, a mezzanine lending fund managed by Sankaty Advisors.
The pension fund also committed $25 million to HarbourVest Dover Street VIII, a secondary private equity fund managed by HarbourVest Partners.
Investment consultant Summit Strategies Group assisted.