Institutional Investors

Texan fund taps Albourne for consultancy


Simon Ruddick
The $23 billion Texas Employees’ Retirement System is in the early stages of launching its hedge fund allocation after hiring Albourne Partners, founded by Simon Ruddick, as its hedge fund consultant last month.

The tactical plan for the hedge funds will be developed and culminate in a report in the autumn that will provide details on the hedge fund allocation. The pension fund’s ultimate target allocation for hedge funds is 5%, according to Mary Jane Wardlow, spokeswoman for the retirement system.

Last November, Texas Employees issued an RFP for hedge fund consultants/advisers to