Fire & Police Pension Fund, San Antonio, Texas, is expected to begin a large-cap manager search next month after the board reviews its current large-cap managers, said Weir Labatt, executive director for the $1.25 billion fund.
Mr. Labatt would not say if the new manager would be an addition or a replacement. Alliance Capital and INVESCO are the current large-cap managers, with $186 million and $46 million, respectively.
The size and source of the allocation is undetermined.
The search will be conducted in-house.