Texas Pension Makes New Investment In Hedge Funds

The USD34 billion Employees’ Retirement System of Texas approved two new investments last month, including a USD75 million investment in a long/short European credit hedge fund. The new investments are notable because ERS, along with many other U.S. pension plans, has mostly focused on adding private equity funds in recent months and MandateConnect data show there have been only limited new allocations to hedge funds.