Texas County & District picks more credit hedge funds

By Christine Williamson | January 7, 2013 4:11 pm

Texas County & District Retirement System invested $200 million each in new credit-oriented hedge funds Brevan Howard Credit Catalysts Fund LP and BlueCrest Capital LP.

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The investments were made on Jan. 1, according to a transaction report on the $17.6 billion retirement system's website.

BlueCrest Capital Management is a new manager for the Austin-based municipal retirement system. TCDRS previously invested a total of $120 million in Brevan Howard, the flagship global macro hedge fund managed by Brevan Howard Asset Management.

The latest allocations raise TCDRS' hedge fund investments by 14% to a total of $3.26 billion.

Paul J. Williams, investment officer, wasn't available for an interview by press time.

— Contact Christine Williamson at cwilliamson@pionline.com | @Williamson_PI
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