Institutional Investors

Fort Worth adds $25 million to HFs


Fort Worth Employees' Retirement System in Texas is beefing up its hedge fund portfolio with allocations of $15 million to PFM and $10 million to Moon Capital.

The $1.4 billion retirement fund has planned to raise its absolute return allocation from 12% to 18% since this past autumn. The move coincided with trustees consulting with legal counsel regarding a $10 million investment in a Madoff feeder fund offered by Tremont - the Rye Securities Broad Market Fund.

Other recent allocations have been Vicus Capital and Contrarian Capital, with redemptions over the summer from six managers keeping the total allocations