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For Investors, Fees Are Better in Texas

Texas Teachers looks to strike a more equitable fee deal with its hedge funds.

       Illustration by Ed Johnson. The Teacher Retirement System of Texas has long been considered a trailblazer among institutional investors in hedge funds. Now the $133.2 billion pension fund is again wading into new territory, in hopes of solving one of the toughest problems in the business: fees. TRS made waves after

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