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Texas Pension Plans HF Allocations

Mar 19, 2013
Jing Chen

Employees Retirement System of Texas plans to allocate up to $600 million to hedge funds before the end of its fiscal year on August 31.

Pensions & Investments reported that the $23.2 billion pension fund aims to invest in eight to 12 new hedge fund managers. The pension, which has a 5% or $1.2 billion hedge fund investment target, has already invested $300 million by the end of 2012.

The article also said that ERS’ hedge fund team is finishing “late-phase due diligence” with several undisclosed equity long/short and equity market-neutral managers.

The name of the managers will not be identified until the pension board's meeting on May 21.

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