Friday, 31 July 2015
Last updated 9 hours ago
May 31 2011 | 8:50am ET
The Texas Employees Retirement System has taken a big step towards its first hedge fund investments.
The $23 billion public pension has hired Albourne America to advise it on hedge funds, Pensions & Investments reports. The consultant will help TERS establish its investment plan and will assist in picking the beneficiaries of the pension's initial 1% investment target—an impressive $230 million—beginning early next year.
TERS allocated 5% of its assets to hedge funds in 2008, but shelved those plans amidst the financial crisis.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…