Austin (Texas) Police Retirement System will conduct shortlist searches for active domestic midcap and emerging markets equity managers, said Sampson Jordan, CEO.
Interested managers may contact investment consultant The Bogdahn Group. The allocation sizes and funding sources have not been determined yet, Mr. Jordan said in an e-mail.
Separately, the $602 million pension fund hired Franklin Templeton Investments to run about $17.5 million in a global multisector bond strategy. The hire is pending further legal review, Mr. Jordan said. Funding is coming from reducing an emerging markets bond fund managed by Ashmore Investment Management to $17.5 million.
Also, the pension fund hired Thornburg Investment Management to run $50 million in active international equity. Thornburg previously managed the assets for the plan in a global equity strategy. Thompson Siegel & Walmsley also was a finalist. Mr. Jordan said The Bogdahn Group recommended investing in an international equity strategy.