CHICAGO The state Teachers’ Retirement System plans to invest nearly a (B) billion dollars into hedge funds to help solve its financial problems.
That’s according to a report in the Chicago Tribune today.Such an investment is considered a controversial move for the 39 (B) billion dollar system, which has been criticized for having only 62 percent of the money needed to meet its projected costs.The Tribune reports that the decision to invest was made December Eighth.
The system will limit its exposure to two-and-a-half percent of assets, which is lower than the ten percent recommended by outside consultants.
