Texas County & District Retirement System, Austin, doubled its investment in Lakewood Capital Partners to $20 million with a second $10 million allocation on July 1.
The first investment in the long/short equity hedge fund managed by Lakewood Capital Management was made by the $23 billion pension fund on Feb. 1, a transaction report on the pension fund's website said.
TCDRS also topped up its investment in another long/short equity hedge fund, Highline Capital Partners QP, with a $50 million investment on July 1, the report said. The fund's first investment — $150 million — in the Highline Capital Partners' fund was made on April 1.
Year-to-date through July 1, the pension fund had committed a total of $380 million to eight hedge funds, including the additional contributions to the Lakewood and Highline funds.