Texas Tech University System’s $775 million endowment has made two new hedge fund allocations, HFMWeek reports. The system has hired Argonaut Capital Management, a discretionary global macro hedge fund, and Discovery Capital Management. Argonaut invests in foreign exchange, commodities, fixed income and equity index futures, while Discovery invests in equity, debt and currencies across global markets, with an emphasis on emerging market investments. The system has allocated 22% to absolute return funds, as compared to its target allocation of 25%.
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