Presentation by Private Equity Separate Account Managers on Investment
Management Services Provided to the Permanent School Fund
January 31, 2013
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee to hear a presentation by private equity separate account managers on investment management services provided to the Permanent School Fund.
BOARD RESPONSE: Based on the information presented, the committee may direct staff as appropriate.
PREVIOUS BOARD ACTION: At the July 2006 meeting, the board approved a long-term strategic asset allocation which included a 6% allocation to the private equity asset class.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: None.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be $2.0 billion during the 2012-2013 biennium.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund