Texas Hires Albourne As First Hedge Fund Consultant

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.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...