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

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...