Texas Municipal Retirement System held a portfolio worth more than $40.48 billion as of March 31, 2024. Holdings span domestic and international equity, fixed income, private equity, real assets, natural resources, infrastructure, real estate, hedge funds and cash. Returns of 3.67% for the quarter, 11.62% over 1 year, 6.05% over 3 years, 7.19% over 5 years and 6.38% over 10 years compare with benchmark returns of 3.66%, 10.06%, 3.07%, 5.47% and 5.37% for the same periods. On March 31, 2024, private equity stood at $9.45 billion, or 23.3% of the total portfolio, and sits inside the 16-36% target range. Of that amount, $4.79 billion is placed in private debt strategies. On December 31, 2023, the private equity portfolio had been valued at $4.38 billion. Private equity exposure covers buyout, co-investment, mezzanine, private growth equity, distressed debt and venture capital fund strategies spread across the globe. First-time fund investments are welcome. The infrastructure portfolio was valued at $2.19 billion on March 31, 2024. The executive management team directs the investments, and Mr. Yup Kim is Chief Investment Officer. Albourne America and NEPC act as LP Consultants.
| Investor | Type | Based in | Focus | AUM | Contacts |
|---|---|---|---|---|---|
| Morgan Stanley Investment Management | Fund of Funds | New York | Debt & credit · Core · Co-investment | $1.6T | 1 |
| Blackstone Group - Fund of Funds and Secondary | Fund of Funds | New York | Multifamily · Industrial · Core | $1.1T | 16 |
| New York Life Investment Management | Asset Manager | New York | Multifamily · Industrial · Co-investment | $740B | 5 |
| Brookfield Asset Management | Asset Manager | Toronto, Canada | Multifamily · Industrial · Opportunistic · Joint venture | $690B | 12 |
| KKR | Asset Manager | New York | Multifamily · Industrial · Core · Co-investment | $553B | 11 |
| Ares Management | Asset Manager | Los Angeles | Multifamily · Industrial · Core | $546B | 16 |
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