Texas Puts K2 On Watch, Increases Mesirow Investment

Apr 20 2011 | 11:01am ET

The Texas Permanent Schools Fund has put one hedge fund manager on watch and boosted its investment in another.

The $24.4 billion fund’s board of directors voted in January to put K2 Advisors on watch; the automatic move came because the $400 million separately managed account managed by K2 underperformed its benchmarks for three straight quarters.

In addition, Texas moved $85 million out of another of its managers, GAM Holding, and into Mesirow Financial, HFMWeek reports. Both funds of hedge funds now manage $300 million on behalf of the fund.

Texas has a total of five funds of funds managing separate accounts, managing a combined $2.46 billion.


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