San Antonio Fire & Police Pension Fund hired WCM Investment Management as an active emerging markets equity manager, recently released board meeting minutes show.
The $3.3 billion pension fund's board approved the hiring at its Aug. 26 meeting following a search conducted earlier this year; Axiom Investors and RBC Global Asset Management were the other finalists.
At its Aug. 26 meeting, the board also approved the termination of incumbent emerging markets equity manager Acadian Asset Management; the reason for the change, and the portfolio size, were not available.
Also on Aug. 26, the board approved committing $20 million to Charlesbank Equity Fund X, a middle-market and growth equity fund managed by Charlesbank Capital Partners, minutes show.
Cary Hally, chief investment officer, could not immediately be reached for further information.