Fort Worth (Texas) Employees' Retirement Fund hired Nuveen to manage about $34 million in its real assets income strategy, said Benita Falls Harper, interim executive director, in an email.
The $2.1 billion pension fund's board at its Feb. 27 meeting approved allocating 20% of its inflation portfolio to the strategy. As of Dec. 31, the inflation portfolio had about $168 million in assets, or 7.8% of the total fund. The inflation target is 8%.
The pension fund also terminated two managers in its inflation portfolio as a result of that portfolio's restructuring: CoreCommodity Management, which ran a commodities portfolio, and Heitman, which ran a global real estate investment trust strategy. The sizes of their portfolios could not be immediately learned.
Spokeswoman Mary Kay Glass could not immediately provide further information.