Linda Pells Calnan

The Fund practices the traditional philosophy of asset allocation by maintaining constant percentages of the assets in domestic stocks, international stocks, bonds, cash, and alternative investments. The Fund invests in hedge funds, private equity funds, and real estate funds. The firm handles all manager research and due diligence in-house. Houston Firefighters currently manages about $2.7 billion in total assets, with 5.6% allocated to real estate, 12.4% allocated to private equity, and 9.2% allocated to hedge funds.