Texas County & District Retirement System, Austin, made its first hedge fund investment of 2019, a transaction report showed.
Investment officers of the $30 billion pension fund invested $200 million in a separately managed credit strategy run by Chatham Asset Management, confirmed Kathy Thrift, a TCDRS spokeswoman, in an email.
Further information about the strategy was not available.
Hedge fund investment by the defined benefit plan slowed to a total of $125 million in two strategies in 2018 compared with a much larger allocation totaling $695 million to seven funds the prior year.
