I’ve heard a high-grade rumor that Richard Tettamant is stepping down from his directorship of the Dallas Police and Fire Pension System. I stress: rumor. I can, however, confirm that next week’s pension board meeting will feature an executive session to discuss a personnel matter. I’m not sure what this possible move might signal about the fund’s finances. Maybe it means nothing. Maybe the fund’s unorthodox, real-estate-heavy portfolio is in good shape. Maybe Tettamant just decided — suddenly — that it was time to retire. But I think I do know what his possible departure means for the Nasher: good news.
When I interviewed Tettamant for our 2012 cover story about the glare coming off Museum Tower, he made it pretty clear that the tower was his baby. In fact, he told me that the basic design of Museum Tower was his. He drew its shape on a napkin to show architect Scott Johnson what he wanted. His ego is closely tied to that tower, which is why he doesn’t want to alter it in any way. With Tettamant no longer calling the shots, finding a fix to the glare problem should be easier.
There is one minor problem, however. The general partner of Museum Tower is an entity called RTGP, LLC. RTGP runs that building. And RTGP stands for “Richard Tettamant General Partner.” Even if he’s no longer the director of the pension system — if — Tettamant is still the manager of RTGP, making it unclear how much control over Museum Tower he might still retain.