Texas County & District Retirement System, Austin, invested an aggregate $200 million in two new hedge funds, raising the total invested in new hedge funds so far this year by the system to $750 million.
The latest investments, $100 million each, went to ESG Cross Border Equity Fund, an emerging markets long/short equity fund managed by Emerging Sovereign Group, and Senator Global Opportunity Fund, a global long/short equity fund, managed by Senator Investment Group.
The news comes from a transaction report on the $20.8 billion pension fund's website. The two investments were funded on July 1.
TCDRS' earlier 2013 hedge fund investments were Brevan Howard Credit Catalysts Fund, $200 million; BlueCrest Capital, $200 million; and Tiger Consumer Partners, $150 million.