Dallas Police & Fire Pension System hired WCM Investment Management to run about $120 million in active global growth equities.
The $1.9 billion pension fund's board approved the hiring at its Oct. 12 meeting, said Ryan Wagner, chief investment officer.
The pension fund issued an invitation-only RFP in June following the termination earlier this year of Invesco from a similar portfolio due to concerns with performance and changes in portfolio construction over time, Wagner said. Invesco spokeswoman Jeaneen Terrio declined to comment.
Funding comes from an interim transition account managed by Russell Investments.
T. Rowe Price Group was the other finalist, Wagner said.
As of June 30, the pension fund's actual allocation to global equity was 46.7%.
Investment consultant Meketa Investment Group assisted.
