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Hedge Funds

Texas County & District adds to Putnam long/short fund

The $28.6 billion Texas County & District Retirement System made its first investment of 2018 on Monday with an additional allocation of $25 million to Putnam Bluescale Fund, a transaction report showed.

The Austin-based pension fund's initial investment of $100 million to the long/short equity hedge fund, managed by Putnam Investments, was on Nov. 1 followed by an additional $25 million on Dec. 1.

TCDRS made direct investments in hedge funds totaling $695 million in 2017 compared to $480 million in 2016 and $695 million in 2015, transaction reports showed.