Fort Worth (Texas) Employees' Retirement Fund invested $14 million in Pentwater Event Fund, an event-driven hedge fund managed by Pentwater Capital Management, said Robert Hulme, deputy director of investments and operations, in an e-mail.
It is a first-time commitment to Pentwater Capital.
Funding will come from previous redemptions such as BlackRock's Global Ascent Fund, Mr. Hulme wrote. The $2.1 billion pension fund redeemed its $12.5 million investment in the global macro hedge fund in April.
