Friday, 22 August 2014
Last updated 1 min ago
Aug 22 2012 | 11:52am ET
The Texas Employees Retirement System has committed up to $405 million to its first hedge fund managers.
The $21.2 billion public pension fund approved its first-ever mandates and has already handed out $300 million to four funds. It plans to hire another eight to 12 managers in its next fiscal year, which begins next month.
The pioneers of the Lone Star State pension's hedge fund program are Arrowgrass Capital Partners, MKP Capital Management, Southpaw Asset Management and Claren Road Asset Management. TERS committed $80 million to each firm, which will put the pension's money to work in multi-strategy, macro, event-driven and relative value funds, respectively.
The Texas system also hired Aspect Capital and Walker Smith Capital, but has yet to fund those commitments of $35 million and $50 million, respectively. It also has yet to fund $20 million of its commitment to MKP, Pensions & Investments reports.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note