Texas $23B pension targets 5% to hedge funds
August 24, 2011
The Texas pension fund for public employees plans to plow $1.15 billion into hedge funds within the next three years.
The $23 billion Employees Retirement System of Texas plans to allocate 5% of its capital—about $1.15 billion—to hedge funds within the next three years.
According to the pension plan's annual tactical plan outline, which was presented to its trustees at a board meeting yesterday, Texas ERS plans to make $358 million in commitments in 2012, $500...
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