HFMWeek – The $18.2bn Texas County & District Retirement System (TCDRS) invested an additional $1bn into hedge fund strategies in March, HFMWeek has learned. The move follows a decision made by the retirement system to increase its absolute return target from 15% to 20% during the same month, also revealed by HFMWeek at the time.
TCDRS boosted its allocations to 20 funds in total, including total additional investments of $120m to three credit funds, $30m to one distressed fund, $140m to two global macro funds, $60m to two event-driven funds, $240m to six long/short equity funds and $220m to five multi-strategy funds.
