Texas ERS Makes Two Hedge Fund Commitments

The Texas Employees Retirement System has made two additional hedge fund commitments totaling USD175 million. ERS’ Asset Class Investment Committee approved commitments of USD75 million for the Tenor Opportunity Fund and USD100 million for the Cinctive Global Macro fund, according to ERS’ August investment monthly summary. The investments add to additional positions in these funds, within the plan’s risk-reducing asset class. A spokesperson for Texas ERS said that an initial investment in the Tenor fund was made in November 2021, while the first investments in the Cinctive fund began in June 2022.