Texas Pension Hires Two Hedge Funds

Feb 13 2012 | 5:50am 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.


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