Texas Pension Picks BlueCrest, Brevan For Credit

Jan 11 2013 | 11:33am ET

The Texas County & District Retirement System has invested $400 million with BlueCrest Capital Management and Brevan Howard Asset Management.

The $17.6 billion pension awarded each firm $200 million, to be invested in their respective credit strategies. The investments were made on Jan. 1, Pensions & Investments reports.

London-based BlueCrest is new to TCDRS. The pension already invests in Brevan Howard's flagship global macro fund, although the new allocation to its Credit Catalysts Fund exceeds the $120 million previously allocated to the flagship.

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