The California State Teacher’s Retirement System has made its third global macro investment.
Pensions & Investments reported that CalSTRS allocated $50 million to New York-based hedge fund firm MKP Capital Management. Earlier global macro investments were made to Bridgewater Associates and Alphadyne Asset Management, also with $50 million each.
The allocation is part of a three-year plan devised by the pension fund’s innovation and risk unit which aims to research and test new investment approaches.
CalSTRS’ macro hedge fund portfolio totals to about $200 million.