The legislature in Texas passes a bill that will allow the Texas Teachers fund to invest up to $10.9 billion in hedge funds.
Texas Governor Rick Perry signed a bill into law earlier this month that will allow the Teacher Retirement System of Texas to double its hedge fund investment limit to 10%. The $109 billion pension is just shy of its previous 5% limit, with about $4.2 billion invested in hedge funds.
Spokesman Howard Goldman declined to say how long the pension plans to take to reach its new hedge fund limit or what strategies it might invest in next. “We will carefully evaluate our options as we expand our allocation in hedge funds,” he said.
Some of TRS’s