Dallas Police & Fire Pension System hired Pacific Asset Management to run $50 million in bank loans, said Kelly Gottschalk, executive director of the $2.1 billion pension fund.
Funding will come from cash.
A search was launched in May; an RFP was not issued. Investment consultant NEPC assisted.
As of April 30, the pension fund had a 6% target to bank loans and a 2.7% allocation.