Texas Pension Hires Two Hedge Funds

Feb 13 2012 | 4:50am ET

The Texas County & District Retirement System has added a pair of hedge funds to its portfolio, spending $305 million of $885 million recently set aside for the asset class.

The beneficiaries of the $17.7 billion pension's largesse are New York-based Asian Century Quest Capital and Rowayton, Conn.-based Graham Capital Management. The latter's Global Investment Fund received $175 million, while the former was allocated $130 million, HFMWeek reports.

Texas County & District has about $2.8 billion invested in 28 hedge funds. The system at the beginning of the year increased its target allocation to hedge funds to 25%, giving it about $1.6 billion more to play around with.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...