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Texas Permanent School Fund going direct with partnerships

Pensions & Investments – Texas Permanent School Fund, Austin, on the recommendation of its investment staff, is restructuring its $2.5 billion hedge fund portfolio to move from a fund-of-funds approach to direct investment through strategic partnerships.

The Permanent School Fund will review a process for selecting strategic partners for its $2.5 billion hedge fund portfolio during the Jan. 25-27 meeting of the Texas State Board of Education, which oversees the $22.8 billion fund on behalf of the Texas Education Agency, Austin.

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