Dallas/Fort Worth International Airport Board allocated a total of $55 million to three managers on behalf of its pension funds, said Michael Phemister, vice president of treasury management.
In real estate, the board committed $20 million to Crow Holdings Realty Partners VII, managed by Crow Holdings Capital.
In alternative fixed income, it committed $20 million to real estate loan fund Blackstone Real Estate Debt Strategies III, managed by Blackstone Group.
In real assets, the board allocated $15 million to First Trust North American Energy Infrastructure Fund, an exchange-traded master limited partnership fund managed by First Trust Portfolios.
The board oversees two pension funds with a combined $540 million in assets, plus two 401(a) plans and two 457 (b) plans with a combined $130 million. The pension funds’ aggregate targets for real estate, alternative fixed income and real assets are 10%, 15% and 10%, respectively.
Separately, the board is exploring ways to bring its pension funds’ private equity allocation, now roughly 5.5%, closer to its 12.5% target, Mr. Phemister said.
Mr. Phemister said he is leaning toward funds-of-funds strategies, but no firm decisions have been made.
Interested firms can contact the board’s investment consultant, The Bogdahn Group, he said.
