Dallas Police & Fire shops $614m mixed portfolio

The troubled pension was expected to approve the sale, which includes private equity and real assets stakes, on Thursday.

Dallas Police & Fire Pension System (DPFP) is exploring the sale of fund stakes held in its private investments portfolio and has received bids from 19 potential buyers in a process run by Evercore.

The Texas pension, which had to stop allowing withdrawals on 8 December amid plummeting returns, was expected to authorise the sale at its board of trustees meeting on the same day, agenda materials show.

The portfolio DPFP wanted to offload had a net asset value of $613.9 million as of 30 June and comprised 37 fund stakes across infrastructure, energy, buyout, growth, special situations and real estate strategies, according to a document prepared by Evecore. It has $277.8 million of unfunded commitments

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