Institutional Investors

Texas Co. adds 14 hedge funds to pension portfolio


The Texas County and District Retirement System has placed $815 million in a large tranche of hedge fund allocations in early October.

The $18 billion pension fund hiked its absolute return target allocation to 20% in 2010 and had already $1.4 billion in 26 absolute return partnerships as far back as 2009 with allocations to credit, distressed, equity long/short and multi-strategy funds.

The largest commitments were to Brigade Leveraged Capital Structures Fund and Taconic Opportunity Fund totalling $180 million each. A $100 million commitment was made to Viking Global Equities.

Smaller tickets were