The Chief Investment Officer of $107.4 billion Teachers Retirement System of Texas, Britt Harris in the year 2011 was contemplating whether to pursue strategic partnerships with a group of big private equity firms. Subsequent to spending four years aggressively moving the fifth largest pension fund in the USA into alternative asset classes, Harris desired that TRS must not only participate in private equity funds as a typical limited partner.
Rather, under his suggestion TRS would offer carefully checked firms multi-billion dollar investments through a customized fund construction that guarantees to reinvest 50% of any investment, and had fewer allocation mandates than traditional fund structures gains back into the investment vehicle. In exchange, get greater access to investment professionals within the participating firms and Harris expected to receive a compensation construction that was highly customized.
Texas Teachers and the New Texas Way case study solution
PUBLICATION DATE: April 04, 2014 PRODUCT #: 214091-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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