Employees Retirement System of Texas

About Employees Retirement System of Texas

Employees Retirement System of Texas is a public pension fund with an investment portfolio valued at $39.9 billion as of August 31, 2024. Holdings include private equity, real estate, hedge funds, infrastructure, special opportunistic funds, real assets, natural resources, publicly-traded equities, fixed income securities, and cash. The System makes contingent commitments to entities that manage private equity, private real estate, private infrastructure, private fixed income, and hedge fund portfolios. The private equity portfolio was valued at $6.75 billion as of May 31, 2024, or 17.4% of the total portfolio, up from $6.40 billion on May 31, 2023. It is currently overweight against a 16% target allocation. Private equity investments cover buyouts, diversified private equity, private equity growth expansion, and venture capital strategies. International private equity investments may make up no more than 50% of the private equity allocation and must be diversified within the total portfolio. The portfolio is open to first-time fund investments. The infrastructure portfolio was valued at $2.32 billion as of May 31, 2024. The board of trustees governs the fund's investments, and Mr. Machelle Pharr serves as Chief Financial Officer. LP Consultants are Albourne Partners, CBRE Caledon, LP Capital Advisors, Meketa Investment Group, and NEPC.

Real estate mandate

Contacts at Employees Retirement System of Texas