St. Paul Teachers To Boost Private Equity, Add Hedge Funds

Mar 13 2012 | 11:05am ET

Teachers in Minnesota's capital are poised to put a significant chunk of their futures in the hands of alternative investments managers.

The St. Paul Teachers' Retirement Fund Association has adopted a new asset allocation that includes its first foray into hedge funds and commodities and a big jump in its private equity investments.

The $950 million public pension has created a 5% hedge fund allocation and doubled its private equity allocation to 10%, Pensions & Investment reports. It has also rejigged its 10% real estate allocation, creating instead an 11% "real assets" allocation that will also invest in commodities.

And more could be on the way: Minnesota legislators are mulling a change that would allow St. Paul to put a total of 35% in alternative investments, up from the current 25%.

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