Monday, 8 February 2016
Last updated 1 hour ago
Mar 30 2011 | 8:54am ET
A Texas public pension system has increased its hedge fund target by one third and its private equity target by a quarter.
The Texas County & District Retirement System boosted its absolute return target to 20% from 15%. In addition, the $18 billion system increased its p.e. target from 8% to 10%. The changes resulted in reduced targets for international equities, core fixed-income and Treasuries.
While it was unclear whether the rebalanced portfolio targets would lead to any searches, the pension did commit $40 million to a pair of Summit Partners private equity funds.