Pursuits
Dallas Museum Seeks to Shade Pension-Backed Tower’s Glare
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A Dallas pension fund’s glass-skinned apartment tower may need costly changes after the Nasher Sculpture Center, home to works by Degas, Picasso and Rodin, complained of damaging light and heat reflected by the building.
The dispute over the 42-floor Museum Tower highlights the risks taken by the $3.1 billion Dallas Police & Fire Pension System. With 52 percent of assets invested in recent years in such alternatives as the $200 million tower and the “American Idol” production company, it takes more risk than any U.S. public retirement plan, according to researcher Preqin Ltd.