Mandates & RFPs

Texas lays hedge fund groundwork


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 were collected on 30 November. 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, due diligence, portfolio management and risk controls for a global hedge fund portfolio that will ultimately total more than $1 billion or 5% of the overall investment programme.

The pension