Key Takeaways
- • The Texas Permanent School Fund is staying the course with plans to increase its private equity allocation toward its 20% target, according to Pensions & Investments.
- • The PSF had $57.3 billion in assets in the reporting context cited by publisher materials, and has grown to over $60 billion overall, distributing more than $4.8 billion biennially to Texas K-12 schools.
- • The fund plans a co-investment underwriting program focused on private equity assets and to increase its private equity commitments by 1 percentage point, per publisher materials.
- • The PSF's target allocation includes 20% private equity, 14% large-cap U.S. equity, 12% real estate, 10% core bonds and 8% private credit.
Summary
The Texas Permanent School Fund, based in Austin, is staying the course with plans to increase allocations to private equity, which carries a 20% target within its portfolio, according to Pensions & Investments. The fund manages $57.3 billion in public school endowment assets per publisher materials, and the PSF has grown to more than $60 billion overall. It distributes more than $4.8 billion biennially to Texas K-12 schools.
The fund's target allocation includes 20% to private equity, 14% to large-cap U.S. equity, 12% to real estate, 10% to core bonds and 8% to private credit. Publisher materials indicate the PSF will create a co-investment underwriting program focusing on private equity assets and will increase its private equity commitments by 1 percentage point.
The PSF, founded in 1845, is a public endowment and wealth fund supporting Texas public schools. Its CEO and CIO, Robert Borden, was profiled recently by Pensions & Investments. The primary article reports on the fund's private equity strategy; the full article text was limited in the source material available for this summary.
The fund's target allocation includes 20% to private equity, 14% to large-cap U.S. equity, 12% to real estate, 10% to core bonds and 8% to private credit. Publisher materials indicate the PSF will create a co-investment underwriting program focusing on private equity assets and will increase its private equity commitments by 1 percentage point.
The PSF, founded in 1845, is a public endowment and wealth fund supporting Texas public schools. Its CEO and CIO, Robert Borden, was profiled recently by Pensions & Investments. The primary article reports on the fund's private equity strategy; the full article text was limited in the source material available for this summary.
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