Institutional Investors

San Antonio Fire and Police plans to hire five single managers

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The $2 billion San Antonio Fire and Police Pension Fund in Texas is planning to hire five hedge fund managers to handle approximately $10 million each.

The pension fund’s new general investment consultant is also in the process of reviewing the asset allocation and providing recommendations if warranted. Officials have noted that the direct hedge funds continue to outperform the pension’s fund of hedge fund portfolio and also the fund of hedge funds index.

Staff, which relies on Albourne Partners, was directed to conduct due diligence calls on approx-imately 40 direct hedge funds for