San Antonio Fire & Police Pension Fund approved a search for one or more private debt managers and for a real asset manager within its emerging manager program, said recently released board meeting minutes.
The $2.6 billion pension fund’s board approved the searches at its June 24 meeting. No more information was available. The pension fund had a 3.3% allocation to private debt as of Sept. 30.
Further information on the emerging manager program could not be learned by press time.
Separately at the meeting, the pension fund committed $50 million to USAA Eagle Real Estate Fund, managed by USAA Real Estate, and $38 million to J.P. Morgan Strategic Property Fund, managed by J.P. Morgan Asset Management, and terminated real estate managers Clarion Partners and Principal Global Investors. The size of the portfolios and the reasons for the terminations were not provided.
Also, the pension fund terminated Profit Investment Management from its emerging manager program. Further information could not be learned by press time.
Matthew O’Reilly, chief investment officer, could not be reached for additional information by press time.