Fort Worth (Texas) Employees' Retirement Fund terminated two managers, said Joelle Mevi, executive director and chief investment officer, in an e-mail.
The $2 billion pension fund terminated Energy Opportunities Capital Management from a $19.6 million public equity strategy that falls under its real-return portfolio. Assets will be reallocated among existing commodity and master limited partnership managers in the real-return portfolio.
Also, the pension fund is redeeming its $16.5 million investment in Perry Partners, a multistrategy hedge fund managed by Perry Capital. Proceeds will be used to help fund the pension fund’s ongoing cash needs. Perry Capital and Energy Opportunities officials were not immediately available for comment.
Ms. Mevi did not provide additional information by press time.