Dallas Employees’ Retirement Fund hired Acadian Asset Management and BlackRock as global low-volatility equity managers, recently released board meeting minutes show.
Acadian and BlackRock will each manage 5% of the $3.4 billion pension fund, or roughly $170 million each.
In September 2014, the pension fund board approved a 10% allocation to global low-volatility equity. A search for managers was launched shortly thereafter. The funding source or sources could not be learned by press time.
Investment consultant Wilshire Associates assisted.
Cheryl Alston, executive director, could not be reached for additional information by press time.