Pennsylvania Public Schools Employees’ Retirement System (PSERS) is seeking to allocate an additional $250 million to Capula Investment Management, HFMWeek reports. The new investment will be made to the $1.5 billion Capula Tail Risk Fund to cut residual beta within the absolute return program.

The Capula fund is designed to hedge tail risk across asset classes in developed markets, including equities, credit, FX and rates. The finance committee of the $49.8 billion system had approved a $200 million allocation to the Capula Global Relative Value Fund in February.

Click here for the story from HFMWeek.