Texas Municipal Retirement System related stories
All articles and analysis
Side Letter: PE's dreaded 'Z' wordLPs are increasingly concerned about tail-end assets; Virginia's $134bn state pension system is worried about GP selection; Apax's new IR hire.
Side Letter: TDR's ICE connectionIn today's edition US Immigration and Customs Enforcement drama spills over into PE; The evergreen industry continues to bloat; One PE shop finds itself on the right side of AI history.
Side Letter: TMRS's PE dynamoIn today's edition, Texas Municipal's new CIO is pro-PE and has Europe in his sights; Venture capital returns are falling short; ADIA leans deeper into GP-led secondaries.
'Performance anxiety' prompts a rethink for investorsThe proportion of LPs seeking to invest more in private equity has been hit by performance concerns, while Europe looks to benefit from US uncertainty.
Side Letter: Illiquidity premium erosionPrivate equity’s liquidity premium appears to be eroding at a faster rate than ever before. Plus: a UK pension giant is pumping more into PE; and a German LP gets a new CIO. Here's today's brief, for our valued subscribers only.
Texas Municipal's directs head: No reduction in fund commitmentsThe $44bn pension's Amol Deshpande discusses its PE allocation plan and the types of secondaries opportunities it expects to pursue.
TMRS to commit up to $15bn into co-investments in next five yearsThe pension is launching a private market investment programme targeting co-underwrites, syndicated co-investments, secondaries and growth capital investments.
Side Letter: GIC on CVsThe world's second-largest PE investor appears cautiously optimistic around continuation funds. Plus: Texas Municipal and Fordham University are wary of retail participation in private markets. Here's today's brief, for our valued subscribers only.
Texas Municipal: LPs should 'recalibrate' private markets returns expectationsPrivate markets investments will take 'twice as much effort' to generate returns similar to those seen over the past 15 years, says Texas Municipal Retirement System CIO Yup Kim.
Side Letter: IPEM talking pointsDispatches from IPEM in Paris last week. Plus: a UK foundation is losing its private markets director; and secondaries continues to gain ground among family offices. Here's today's brief, for our valued subscribers only.