Austin Police To Liquidate Excelsior Mandate

The City of Austin Police Retirement Fund is terminating one of its hedge fund investments, HFMWeek reports. The $506.5 million scheme will withdraw about $1.2 million from Excelsior Investors.

The fund will maintain a $1.5 million side pocket investment in the Texas-based fund. At present, the retirement fund allocates about 9.5% of its portfolio to five hedge funds.

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