Austin (Texas) Police Retirement System selected finalists in its search for active domestic midcap equity managers, CEO Sampson Jordan wrote in an e-mail.
The $610 million pension fund named Herndon Capital Management and Seizert Capital Partners as finalists for a $30 million value portfolio, and Baird Investment Management and Westfield Capital Management as finalists for a $30 million growth portfolio.
The Bogdahn Group, the pension fund’s investment consultant, conducted the invitation-only search. Finalist presentations will take place at the May 20 investment committee meeting, with a decision expected shortly thereafter.
Separately, the pension fund’s board approved a $16 million redemption from a Clinton Magnolia hedge fund and an “orderly liquidation” from CBRE Special Situations distressed fund — about $10.8 million — over the next two years. Mr. Jordan wrote that both funds’ investment horizons had been met and they were mature funds.