Hedge Funds Institutional Investors

Austin Police Retirement invests directly


Austin Police Retirement System in Texas approved a $5 million commitment to Excelsior Capital Management to be handled in its volatility arbitrage strategy fund.

The $400 million retirement system funded the new allocation from the redeemed $5 million in assets from the Clinton Equity Strategy fund last fall, which was an automatic redemption since the hedge fund dropped to the original $10 million investment amount. Austin Police plans to reinvest $5 million back with Clinton in the same strategy.

Sam Jordan, chief executive officer of the retirement fund, said there