Dallas Employees' Retirement Fund named four semifinalists in its invitation-only search for a private equity fund-of funds manager to run between $25 million and $50 million as part of its emerging managers program, said Cheryl Alston, executive director, in an e-mail.
After due diligence in June or July, two firms will be selected for final presentations. The search is due to the $3.4 billion pension fund's efforts to allocate the remaining 2.5% of its 10% allocation to the emerging managers program originally established in 2012.
Investment consultant Wilshire Associates is assisting.
A hiring decision is anticipated in September.