Texas Employees Retirement System, Austin, invested or committed a total of $235 million to four alternative investment strategies in October, a transaction report showed.
Investment officers of the $28.5 billion defined benefit plan invested $125 million from the fund's $934 million hedge fund portfolio in multistrategy hedge fund Hudson Bay Fund. The investment is ERS' first to the fund's manager, Hudson Bay Capital Management.
From the fund's $4 billion private equity portfolio, $60 million was committed to Wind Point Partners IX, a middle-market buyout fund focused on investment in consumer products and industrial and business services. Wind Point Partners is an existing manager of the fund.
In private real estate, the fund's investment team committed $30 million to new manager Northpond Partners' Northpond Fund IV. Portfolio managers will seek investment in high conviction U.S. submarkets in the Midwest and Southeast. Targeted property sectors include fast casual and quick-serve restaurants, pet stores, coffee shops, fitness centers and pharmacies.
Also from ERS's $3.1 billion real estate fund, staff committed $20 million to Pennybacker EIV, a value-added extension fund run by existing money manager Pennybacker Capital, the fund's transaction report showed.
