Dallas/Fort Worth International Airport committed $15 million to Ironsides III Private Equity Partnership/Co-Investment Fund, managed by Constitution Capital Partners, said Michael Phemister, vice president of treasury management.
DFW Airport oversees two pension funds with a combined $525 million in assets — General Employees of Dallas/Fort Worth International Airport Retirement Plan and Department of Public Safety Retirement Plan.
The airport board previously committed to the predecessor fund.
The board has a 4.5% allocation to private equity and a 12.5% target.
Separately, the board created a new 401(a) plan for new executive employees hired after Jan 1, 2010. ICMA-RC, the third-party administrator for the airport's 401(a) and 457 plans, will administer the new plan. The investment options will mirror the 401(a) plan, according to materials prepared for the board.
