Texas Municipal Retirement System, Austin, hired Boston Co. Asset Management and Wellington Management to run about $245 million each in domestic small-cap equities, spokesman Bill Wallace said in an e-mail.
Funding will come from a Russell 3000 index fund managed by Northern Trust Asset Management. As of March 31, the pension fund had about $5.1 billion invested in the index strategy.
Separately, the $24 billion pension fund hired StepStone Group as its first private equity consultant.
An RFP for a non-discretionary private equity consultant was issued in March.
All the hires are pending contract negotiations.
The pension fund has a 5% target allocation to private equity and 17.5% target to domestic equity.