Texas public pension fund to boost alternative investmentsNews added by Benefits Pro on August 26, 2013
BenefitsPro

Benefits Pro

Joined: September 07, 2011

My Company

By Paula Aven Gladych

The Texas Employees Retirement System will increase its alternative investments next year to $2.4 billion.

The system’s board agreed at its latest meeting to increase its investments in private equity, hedge fund and infrastructure portfolios.

It will commit $700 million to private equity funds in 2014, raising the system’s private equity assets from 8 percent to 10 percent of the pension fund’s assets. The Texas Employees Retirement System had a private equity portfolio of $1.5 billion as of June 30, 2013.

The board wants to invest 5 percent of the pension plan’s assets in hedge funds by the end of its 2014 fiscal year.

It also plans to create an infrastructure asset class with a 1 percent target allocation of plan assets. The retirement system already has $167 million invested in three Texas power plans and it has committed $125 million to an emerging markets power fund. The board would like to reach $235 million in infrastructure investments by the end of 2014.

Originally published on BenefitsPro.com
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release