Austin (Texas) City Employees' Retirement System hired CoreCommodity Management to run a commodities portfolio, said recently released board meeting minutes.
Schroders was the other finalist.
The pension fund added a 5% allocation to real assets in 2012. Additional information, including the size of the allocation, could not be learned by press time.
Separately, the $2.1 billion pension fund hired EFL Associates to conduct a search for a new executive director, said the minutes. The other finalist was CPS HR Consulting.
The current executive director, Stephen C. Edmonds, told Pensions & Investments in April that he will be retiring on Feb. 28, 2015, and that the retirement board hopes to have the new person in place before he leaves to allow for a transition period.
The position is posted on the National Association of State Retirement Administrators' website.
Mr. Edmonds, Kirk Stebbins, chief investment officer, and Elena McCall, assistant vice president at EFL Associates, could be reached by press time.
