Institutional Investors Mandates & RFPs

Texas seeks hedge fund advice actively


The $21.5 billion Texas Employees’ Retirement System is moving forward with a hedge fund action plan following the release of a request for proposal for a hedge fund consultant/advisor.

Responses to the search are due on November 30. Officials are looking for a firm to work with staff to develop a long-term hedge fund investment strategy and develop a plan that addresses issues such as infrastructure development, portfolio allocation, manager selection and due diligence.

The pension plan has budgeted $500,000 in consulting related fees and also plans to hire two additional staffers to oversee the portfolio that is