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Texas System Boosts Alternatives Target
Texas County & District Retirement System has raised its target allocation to alternatives by 5%.
Texas County & District Retirement System has raised its target allocation to alternatives by 5%, Pensions & Investments reports. The $18 billion system increased its absolute-return (hedge fund) target to 20% from 15%, while the private equity target was increased from 8% to 10%.
The emerging markets equity target was also increased to 6% from 5%. The system has decreased target allocations for developed international equity to 15%, core fixed income to 10% and TIPS to 3%. The system did not change the allocations of domestic equity, high-yield debt, REITs and private real estate and commodities.
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