Dallas Employees' Retirement Fund hired CenterSquare Investment Management as a real estate investment trust manager, managing $75 million, said Cheryl Alston, the $3.6 billion pension fund's executive director.
Funding is coming from REIT manager Security Capital Research & Management, which was terminated for performance, Ms. Alston wrote in a response to a records request.
An RFP was issued in October.
Separately, the pension fund terminated active international equity manager Barings for organizational and performance concerns, Ms. Alston wrote. Funds were temporarily redistributed to passive global equity manager BlackRock, which manages about $160 million. As of March 31, Barings managed $183 million.
The pension fund expects to issue an RFP for a permanent replacement manager, Ms. Alston wrote. A timeline has not been determined.
A spokeswoman for J.P. Morgan Asset Management, parent company of Security Capital Research & Management, declined to comment. A spokesman for Barings could not immediately be reached for comment.