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

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...