Dallas-Fort Worth International Airport Board hired Causeway Capital Management to run about $32 million in active international equities.
The $828 million pension fund's board approved the hiring at its Sept. 1 meeting, spokesman Brian A. Brooks said in an email.
Funding comes from the termination of Ivy Investments due to underperformance, according to a memo included with board meeting materials. The firm was acquired by Macquarie Asset Management in 2021. Macquarie spokesman Lee Lubarsky declined to comment.
As of June 30, the actual allocation to international equities was 15.8%.
Separately, the board also approved a commitment of $8 million to AG Realty Value Fund XI, a value-added real estate fund managed by Angelo, Gordon & Co.
As of June 30, the actual allocation to private equity was 14.5%.
Investment consultant AndCo Consulting assists with all hires.
