Monday, 3 August 2015
Last updated 2 days ago
Aug 20 2014 | 6:10am ET
A $26.1 billion Texas public pension fund is on the hunt for up to four new hedge fund managers.
The Texas Employees Retirement System plans to put up to $1 billion in the new funds, which will be part of its directional growth portfolio. The pension’s separate $1.1 billion absolute return portfolio will be unchanged.
The hires will come during TERS’ next fiscal year, which begins on Sept. 1, it said at a meeting yesterday.
TERS lowered its private-equity target from $1.25 billion this fiscal year to $950 million next. The pension plans to retain most of its existing managers and to make between six and 10 new fund and co-investments.
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…