Texas Employees Scraps Separate Hedge Fund Portfolio

Jun 7 2013 | 11:31am ET

One major public pension fund is doing away with its hedge fund portfolio—while keeping the hedge funds themselves on board.

The Employees Retirement System of Texas has scrapped its separate hedge fund allocation, Institutional Investor reports. The $24.9 billion pension will continue to invest in hedge funds, but has integrated them into its overall portfolio.

Hedge funds will now be considered part of major asset-class portfolios, such as equity and fixed-income.

ERS voted to integrate its hedge funds in February.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

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

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of