Texas Employees Retirement System, Austin, invested or committed $154 million in March, a transaction report showed.
From The $29.4 billion system's $1 billion hedge fund portfolio, $100 million was invested in Apollo Credit Strategies Fund, a long/short credit fund run by Apollo Group, a new manager for the fund.
The hedge fund's portfolio team invests in in four areas: capital structure arbitrage; defensive credit; stressed credit; and distressed credit/credit-linked securities.
Texas Employees investment officers also committed €50 million ($54 million) to HgCapital Partners IX from the system's $4.4 billion private equity portfolio. The fund previously invested in earlier funds in the manager's series.
The buyout fund focuses on opportunities in business-critical software and services companies, predominantly in northern Europe.