Texas Municipal Retirement System, Austin, committed or invested $425 million with hedge funds and private equity funds, spokesman Bill Wallace confirmed in an email.
Within its absolute-return asset class, the $30 billion pension fund invested $125 million each in Alpstone Global Macro Fund, a macro hedge fund managed by Alpstone Capital; credit hedge fund Diameter Capital Partners; and Infinity Q Volatility Alpha Fund, a volatility arbitrage hedge fund managed by Infinity Q Capital Management.
As of June 30, the actual allocation to absolute return was 7.6%; the target is 10%.
Within private equity, the pension fund committed $50 million to FTV VI, a growth equity fund managed by FTV Capital.
As of June 30, the actual allocation to private equity was 2.4%; the target is 5%.
