Institutional Investors

Post redemptions, Texas Treasury plans to take direct route


The $50 billion Texas Treasury Safekeeping Trust Fund, which manages $2.9 billion in endowment assets, is planning to add direct hedge fund investments following redemptions from its fund of funds portfolio.

The fund is expected to add single-manager hedge funds in the coming year, although the exact number of managers and strategies included is not yet known.

Last fall, the state endowment portfolio received redemptions from Rock Creek Potomac and Austin Capital Management funds of hedge funds, according to trustee meeting minutes. Another full redemption from Entrust Capital was in