San Antonio Fire & Police Pension Fund committed $15 million to Neuberger Berman's Secondary Opportunities Fund IV, recently released board meeting minutes show.
Separately, the pension fund is searching for an infrastructure manager with a focus on open-end funds. The pension fund does not issue RFPs. Additional information, including an allocation size, could not immediately be learned.
Finally, the pension fund will move to a commingled fund structure with international equity manager Strategic Global Advisors from its current separate account to reduce costs. Strategic Global's current allocation could not immediately be learned. It was hired by the pension fund in 2015 to manage $10 million.
As of Sept. 30, the $2.7 billion pension fund had a 5% allocation to private equity, 4.8% allocation to real assets and 18.2% allocation to international equity.
Matthew O'Reilly, chief investment officer, could not immediately be reached for further information.