Austin (Texas) Police Retirement System hired Thompson, Siegel & Walmsley as an international equity manager pending due diligence, recently released board meeting minutes said.
The firm will replace Thornburg Investment Management, which was terminated at the same June board meeting as international equity manager for performance.
“It’s been a privilege to work on this mandate with Austin City Police Retirement System, and we look forward to working with them and their constituents in the years to come,” said Peter Trevisani, managing director at Thornburg, in an e-mail.
Thornburg was hired in January to manage $50 million in active international equity. Thornburg previously managed the assets for the plan in a global equity strategy.
In the interim, funding from the termination will be parked in a Northern Trust international equity index fund.
The size of Thompson, Siegel & Walmsley’s allocation could not be learned by press time.
Thompson, Siegel & Walmsley was a finalist for the international equity allocation in January.
As of June 30, the $621.7 million pension fund’s total allocation to international and global equity was 16.2%.
Sampson Jordan, the pension fund’s CEO, could not be reached by press time.