Fort Worth (Texas) Employees' Retirement Fund hired Garcia Hamilton & Associates to manage about $60 million in aggregate core fixed income, said Joelle Mevi, executive director and chief investment officer, in an e-mail.
The investment will fall under the $2 billion pension fund’s capital preservation portfolio, which had a 15% target.
Funding will come from the termination of Vanguard Group as manager of a Treasury inflation-protected securities portfolio and international fixed-income manager Brandywine, which managed about $43 million each for the pension fund as of July 31.
Separately, the pension fund hired Gabriel Roeder Smith as actuary. An RFP was issued in May because of the pending contract expiration of incumbent actuary Segal Consulting.
Segal did rebid.