Tulare County Employees’ Retirement Association, Visalia, Calif., will invest $30 million in Titan Masters International Fund, a hedge fund of funds managed by Titan Advisors, said Leanne Malison, assistant retirement administrator.
A search for a hedge fund-of-funds manager was launched this summer. The other finalists were Blackstone Group and Magnitude Capital.
The Titan investment should bring the $1.1 billion pension fund to its 5% hedge fund target allocation, up from its current 2.5%.
Investment consultant Verus assisted with the search