Institutional Investors People moves

Texas Teachers preps for new hedge funds as it rejigs team

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Brian Guthrie has been promoted as the new executive director of the Teacher Retirement System of Texas – with Ken Welch, formerly the pension plan’s chief financial officer, stepping into his former role as deputy director of the $120 billion pension.

The pension fund has roughly $4 billion in direct hedge fund allocations and is planning to double this. Over the summer, the state legislature approved the doubling of the hedge fund allocation from 5% to 10% of assets.

As executive director, Guthrie will oversee the pension plan and related benefits to the teachers’ pension, which is the