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.
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.