The $25 billion Texas Permanent School Fund has hired GAM and increased its allocation to Mesirow earlier this year following a vote to place K2 Advisors on a watch list.
Trustees also voted to terminate Goldman Sachs once a new contract was in place with GAM. Under the new absolute return weighting, Mesirow and GAM would manage at least $300 million each.
Last autumn, trustees considered an allocation to an...