Texas County & District Retirement System, Austin, made two additional direct hedge fund investments totaling $90 million to existing managers, said a transaction report on the $24.6 billion pension fund’s website.
The pension fund made a direct investment of $50 million in Highfields Capital IV, a hedge fund managed by value-oriented multistrategy specialist Highfields Capital Management. The pension fund originally invested $200 million in January 2012.
Also, the pension fund made an additional direct investment of $40 million in a long/short equity hedge fund managed by Lakewood Capital Management. The pension fund previously invested a total of $20 million in the hedge fund in 2014.