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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR