Institutional Investors

Texas Teachers rejigs staff and doubles hedge fund allocation

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Brian Guthrie has been named as the new executive director of the Teacher Retirement System of Texas. Meanwhile Ken Welch, who has been TRS’ chief financial officer since April 2008, is now deputy director of the $105 billion pension fund, which now has roughly $4 billion in direct hedge fund allocations.

The pension fund will also be taking action as earlier this summer the state legislature approved the doubling of the hedge fund allocation of the pension fund from 5% to 10% of assets. As executive director, Guthrie will oversee the pension plan