Institutional Investors People Moves

Texas Teachers preps for new hedge funds as it rejigs team


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