The $29 billion Texas Employees’ Retirement System has continued to further diversify its alternative investment portfolios, recently allocating to a hedge fund and a series of private real estate investments.
A $60 million commitment is understood to have gone to Laurion Capital Management, a global relative value hedge fund. Founded in 2005, by J.P. Morgan equity derivatives group alums Benjamin Smith and Sheehan Maduraperuma, Laurion reportedly received capital from Texas last month.
Overall the system has a 4% allocation to hedge funds or $1.16 billion.
At the end of the 2019 . . .
Unlock this article instantly, along with the rest of our premium content, newsletters and data tables tracking investor and manager activity. Monthly and annual subs available.