Texas County & District Retirement System, Austin, invested $200 million in Boston Partners Global Long/Short Fund, a transaction report from the $27 billion pension fund showed.
The investment in the Boston Partners mutual fund is the second from the system's $6 billion hedge fund allocation so far this year. In January, the pension plan increased its investment in Sound Point Credit Opportunities Fund by $50 million to $200 million.
Separately, the fund committed $15 million to Ponoi Capital, a venture capital fund.
The Ponoi commitment is TCDRS' ninth from its $3 billion private equity portfolio year-to-date through June 30, bringing the total committed to $468 million.
Separately, at a June 22 meeting, trustees reviewed the fund's $831 million real estate investment trust portfolio and made several changes, said Paul J. Williams, chief investment officer, in an email.
Dimensional Fund Advisors was hired to manage $275 million in global REITS. Morgan Stanley (MS) Investment Management and Invesco (IVZ) Advisers were terminated for performance reasons from a $275 million global REIT allocation and a $225 million U.S. portfolio, respectively.
Cohen & Steers was retained for management of a $350 million U.S. REIT mandate and will be awarded an as-yet-unspecified portion of Invesco's allocation. The pension fund also is shifting its Cohen & Steers allocation to a more concentrated version of the firm's REIT strategy.
Lauren Bellmare, a spokeswoman for MSIM, declined to comment; Jeaneen Terrio from Invesco could not be immediately reached for comment.