Institutional Investors

Fort Worth adds BTG Pactual to its direct hedge fund portfolio


The Fort Worth Employees’ Retirement Fund in Texas recently added BTG Pactual to its growing direct hedge fund portfolio with the help of its hedge fund consultant, Albourne Partners.

The $15 million allocation was funded by periodic rebalancing at the $1.8 billion retirement portfolio. According to Ruth Ryerson, executive director and chief investment officer, there is no expectation of adding additional hedge fund managers in the near future.

At the November board meeting, trustees voted to switch to a closed-end structure for the pension fund’s hedge fund investment with Pershing Square, subject to a satisfactory completion of