Dallas Employees' Retirement Fund is conducting an invitation-only search for a private equity fund-of-funds manager to run between $25 million and $50 million as part of its emerging manager program, said Cheryl Alston, executive director.
The search is due to the $3.3 billion pension fund's efforts to allocate the remaining 2.5% of its 10% target allocation to the emerging manager program originally established in 2012.
An RFP will be sent to eight managers selected by staff and investment consultant Wilshire Associates. The pension fund hopes to make a decision by October.
Separately, the pension fund made a follow-on commitment of $60 million to a private equity fund-of-one managed by Grosvenor Capital Management's customized fund investment group. The pension fund originally committed $75 million in 2010.