Bloomberg News

Texas Teachers to Take Stake in Bridgewater, Union Rep Says

February 27, 2012

Feb. 17 (Bloomberg) -- Texas Teacher Retirement System, the state’s largest public pension, agreed to take a $250 million stake in Bridgewater Associates LP, the Westport, Connecticut- based hedge fund manager run by Ray Dalio.

Texas Teacher voted at a meeting last night to approve the transaction, according to Ted Melina Raab, senior legislative agent for the Texas American Federation of Teachers in Austin, who was at the meeting.

Alexei Nabarro, a Bridgewater spokesman, didn’t return calls seeking comment. Britt Harris, chief investment officer for Texas Teacher, and Howard Goldman, a spokesman for the pension, didn’t return phone calls and e-mails seeking comment.

To contact the reporter on this story: David Mildenberg in Austin at dmildenberg@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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