Pensions & Investments – Texas Permanent School Fund, Austin, is taking a second look at the construction of its $2.5 billion hedge fund portfolio while investment officials seek to negotiate lower fees from four of its five hedge funds-of-funds managers.
K2 Advisors, which managed $392 million for the educational endowment as of May 31, was terminated effective immediately as part of a motion approved by the Texas State Board of Education, which oversees management of the $24.4 billion endowment, according to a webcast of the board’s July 20 meeting.
