Institutional Investors

Texas Teachers needs bill to up allocation


In a bid to double the size of its hedge fund allocation, the $100 billion Teachers Retirement System of Texas is hoping that new legislation proposed will gain support after failing back in 2008.

The new Act will take effect immediately if it receives a two-thirds vote of all members elected to each house. If the Act doesn’t get the vote necessary to take effect immediately, trustees will need to wait until 1 September. The proposed legislation has yet to make it to a floor vote.

If passed, the Act would allow 10% of assets to be invested