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Texas Pension Redeeming $12.5M HF Investment from BlackRock

Apr 27, 2014
Jing Chen

Texas’ Fort Worth Employees’ Retirement Fund is redeeming its hedge fund investment in BlackRock.

The pension fund’s executive director and chief investment officer, Joelle Mevi, told Pensions & Investments that it has requested to liquidate its $12.5 million investment in BlackRock’s global macro strategy. The reason for redemption was not disclosed.

The pension fund, which manages approximately $2.1 billion for employees, is currently deciding where to reallocate the money.

New York-based BlackRock manages more than $103.4 billion in alternative strategies, including hedge funds, private equity and real estate. The firm has approximately $4.3 trillion in total assets.

 

 

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