San Antonio Fire & Police Pension Fund selected two large-cap managers to run $30 million, committed $40 million to two private debt funds and put a small-cap manager on its watchlist, recently released board meeting minutes show.
At its Sept. 30 meeting, $3.3 billion pension fund's board hired Zevenbergen Capital Investments and D.L. Carlson Investment Group to each manage $15 million in domestic large-cap growth/core equities strategies. The managers were hired as part of the retirement fund's emerging manager program.
The board also committed $20 million each to two private debt funds: VSS Structured Capital IV, managed by VSS Capital Partners; and CapitalSpring Investment Partners VI. The pension fund has an existing relationship with both managers.
Finally, the board agreed to put Lazard Asset Management, which runs $41 million in an emerging markets small-cap equities strategy for the pension fund, on watch for underperformance. Hillary Yaffe, a spokeswoman for Lazard, declined to comment.
Cary Hally, chief investment officer, could not immediately be reached for further information.
