San Antonio Fire & Police Pension Fund's board has approved two new commitments totaling $35 million and terminated NorthPointe Capital from an active domestic large-cap equity portfolio due to the firm's impending closure.
The $3.2 billion pension fund's board approved commitments of $20 million to Black Creek Industrial Fund, a value-added real estate fund managed by Black Creek Group, and $15 million to CVI Aviation Income Fund, a real asset transportation leasing fund managed by CarVal Investors, at its Oct. 30 meeting, recently released minutes show.
The board also approved the termination of NorthPointe Capital, which manages $13 million in active domestic large-cap equities within the pension fund's emerging managers program.
The termination followed manager of emerging managers Attucks Asset Management notifying the pension fund that NorthPointe will cease operations by the end of November. The assets will be moved to a Russell 1000 index fund. Further information was not immediately available.
Cary Hally, chief investment officer, could not be immediately reached to provide further information.