ERS Texas To Make Allocations To Private Equity, Real Estate

Dec 18 2006 | 4:01pm ET

The $23 billion Employee Retirement System of Texas is looking to allocate a combined 15% of its total assets to private equity and real estate, according to spokeswoman Mary Jane Wardlow. The allocation will be split evenly between the two asset classes.

“It’s going to take some time to get this underway so the number that is being reported of $3.5 billion is inconsequential,” said Wardlow. San Francisco-based Callan Associates, which is serving as the system’s consultant, has estimated that it will take the system five to seven years to reach the target for private equity and three to five years for real estate.

The system’s next board meeting is slated for February.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...