Fort Worth (Texas) Employees’ Retirement Fund hired Harvest Fund Advisors to manage about $30 million in master limited partnerships, said Joelle Mevi, chief investment officer, in an e-mail.
The funding source could not be learned by press time.
Separately, the $2.1 billion pension fund terminated Thornburg Investment Management as an international equity manager. Thornburg was terminated for “performance, portfolio management changes and loss of AUM,” Ms. Mevi wrote. The size of Thornburg’s portfolio was about $96 million. The pension fund has a 15% target allocation to international equity.
Rebecca Carrier, spokeswoman for Thornburg, declined to comment.
Funds will be transferred to a passive strategy run by Northern Trust Asset Management until a search can be conducted early next year. Additional information was not provided.
Ms. Mevi and MaryKay Glass, spokeswoman for the pension fund, could not be reached for additional information by press time.
