Tuesday, 3 May 2016
Last updated 1 hour ago
Jul 24 2014 | 7:38am ET
A Texas pension fund has increased its hedge-fund investments by about 20%, allocating an additional $60 million to two of its current managers.
The Texas County & District Retirement System boosted its investment in Highline Capital Partners by $50 million at the beginning of the month, Pensions & Investments reports. The follow-on allocation comes just three months after the $23 billion pension first invested $150 million with Highline, which now accounts for the majority of TCDRS’ $380 million hedge fund portfolio.
TCDRS also doubled its investment with Lakewood Capital Management, adding $10 million to the long/short hedge fund on July 1. The pension first allocated to Lakewood in February.