Texas Issues $2.6B Multi-Strat Fund Of Funds RFP

Aug 8 2007 | 10:57am ET

The $25.9 billion Texas Permanent School Fund is looking for a few good multi-strategy fund of funds managers to create and manage an absolute return FoF portfolio in a separate account vehicle. 

The system’s two-year, $2.6 billion mandate will start on Jan. 1 and run through Aug. 31, 2010, with renewal options through August 2012. Firms interested should be registered with the Securities & Exchange Commission, as well as have at least $5 billion of assets under management and a five-year track record.

The Texas fund’s current asset allocation targets 55% domestic equities, 20% international equities and 25% fixed income securities. Last July, the Texas State Board of Education, which manages the fund, approved a new strategic asset allocation policy to further diversify the fund’s assets into alternative asset classes. Its current allocations the alternative class is 28% with 10% to hedge funds and 6% to private equity.

The deadline for proposal, which can be accessed online, is Aug. 30 at 3:00 p.m., Central Time. 


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.