Friday, 29 May 2015
Last updated 18 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…