The $101 billion Teachers Retirement System of Texas approved a unique deal to purchase private shares in Bridgewater, the biggest hedge fund group in the world.
Trustees in the past week approved a deal to invest $250 million in Bridgewater Associates Immediate Holdings.
The $120 billion hedge fund firm founded in 1975 by Ray Dalio that until now has been 100% employee owned. But the pension fund already has a strategic partnership with the firm and Britt Harris, chief investment officer of Texas Teachers, also had a stint there.
According to a memo on the allocation, the Bridgewater