The $24.4 billion Texas Permanent School Fund (PSF) will boost the Raven 2 portfolio managed by Mesirow to $300 million from $215 million, HFMWeek reports. The PSF’s absolute return portfolio, which is managed over five separate managed account FoHF portfolio, Raven 1 to 5, is at present $50 million underweight of its 10% target.

The move follows the fund’s decision to replace Goldman Sachs as one of its managed account managers with U.K. fund of hedge funds (FoHF) specialist, GAM. The Raven portfolios are legally owned entities of Texas Education Authority. The Raven 1 portfolio, which has $784 million in assets, is managed by Grosvenor Capital Management, while Blackstone Group manages an estimated $600 million under Raven 4.

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