Dallas pension fund’s failed Arizona land deal replaced more traditional investments viewed as ‘too risky’

Richard Tettamant, chief administrator of the Dallas Police and Fire Pension System, traveled around the world to conduct business for the organization. / WFAA
Richard Tettamant, chief administrator of the Dallas Police and Fire Pension System, traveled around the world to conduct business for the organization. / WFAA

By Steve Thompson | dallasnews.com

In today’s story about the exit of Dallas police-fire pension administrator Richard Tettamant, we wrote of a discussion that trustees had yesterday with consultant Rhett Humphreys of NEPC.

Here’s what Humpheys said in a nutshell: Yes, NEPC has advised the fund to move into real estate and private equity to diversify its portfolio. But NEPC did not advise them — and would not have advised them – to venture into a bunch of “direct deals.” Other consultants advised those deals, and in some cases Tettamant’s staff oversaw them internally.

Continued:

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories