Texas Teachers commits $1.3b to emerging managers

 The $134 billion Teacher Retirement System of Texas has announced a $1.3 billion commitment to its emerging managers program over the next three years.

The commitment will be spread out across hedge funds, energy and natural resources, private equity, and real estate. Texas TRS plans to invest the capital with both new and existing emerging managers.

Texas TRS created the emerging managers program in 2006 to ensure emerging managers who met the retirement system’s investment standards could receive a capital allocation. Since then, Texas TRS has invested in a total of 143 emerging investment funds across energy and natural resources, hedge funds, private equity, and real estate.

“To date, over $1.4 billion in core allocations are managed by firms that started in our Emerging Manager Program and who have demonstrated proven and contin