Hedge Fund-of-Funds, A Struggling Business in Texas
Posted on 05/04/2014
Austin-based Texas Permanent School Fund (TPSF), one of the oldest sovereign wealth funds, through the Texas State Board of Education’s finance committee, barely approved contract extensions for all three hedge fund-of-funds managers. The TPSF has a US$ 3 billion hedge fund portfolio, roughly 10% of assets. With vigorous debate, the board members argued about extending […]
