Texas Pension Picks First Hedge Funds

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.


In Depth

Hedge Fund Veteran Peter Borish Talks Trading

Dec 17 2014 | 9:32am ET

Peter Borish says 2014 was “tricky” from a trading perspective. “The best...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.