Texas Employees picks new DC plan funds, sets pacing plans for alts
Print
Texas Employees Retirement System, Austin, made changes to the investment lineup for its $3.1 billion defined contribution and $1.1 billion 457 plans, according to documents from a March 10 board meeting.
During the meeting, trustees approved adding the Fidelity International Index Fund to ERS Texa$aver retirement plan program, spokeswoman Mary Jane Wardlow confirmed in an email.
Fund officers said in a report to the board that a passive international fund would provide participants greater choice with the opportunity for a lower expense ratio and provide for greater diversification.
Two other new funds
Texas weighs punishing companies that divest from fossil fuels
Getty Images/iStockphoto
A Texas state senator wants state pension funds to divest from companies that boycott fossil-fuel investments.
The Texas Senate is considering a bill that would punish companies that divest from fossil-fuel companies by requiring the state s pension plans and investment funds to divest from those companies.
Senate Bill 13, introduced Thursday by lead sponsor Republican state Sen. Brian Birdwell, would require state pension plans and investment funds to stop investing in companies that boycott energy companies.
The bill calls for the state s comptroller to prepare and maintain, and provide to each state governmental entity, a list of all companies that boycott energy companies. Those companies will then be warned by the state funds that they re on this list and have 90 days to amend their positions. If after 90 days these companies do not change their positions, then the state funds shall
Texas Employees commits $130 million to alternatives
Print
Texas Employees Retirement System, Austin, committed $130 million to three private market strategies in February, a transaction report from the $30.9 billion fund showed.
The largest commitment was $80 million to existing manager
Ardian for investment in Ardian Americas Infrastructure Fund V.
The fund s portfolio managers will seek infrastructure investment opportunities in the U.S. and in other countries in the Americas.
Funding for the commitment will come from Texas Employees $1.1 billion infrastructure portfolio.
From the system s $4.9 billion private equity portfolio, $40 million was committed to
Avista Capital Partners V for investment in middle-market, growth-oriented health-care companies primarily in the U.S. Avista is a new manager for ERS.
Waterton raises $1.5 billion for latest value-added real estate fund
Getty Images/iStockphoto
Waterton held a final close of its latest value-added real estate fund, Waterton Residential Property Venture XIV, reaching its hard cap of $1.5 billion.
The fund invests in multifamily properties in major U.S. markets. The firm has already deployed capital from the fund, including the acquisition of a four-property portfolio in the greater Atlanta area, a two-property portfolio in Hawaii and three assets in California.
Its predecessor fund, Waterton Residential Property Venture XIII, closed at $920 million in April 2018.
Related Articles
AIF Institute hires former Texas ERS deputy CIO as executive director
Sharmila Chatterjee Kassam joined the educational resource arm of economic think tank AIF Global.
Ms. Kassam, former deputy chief investment officer of Texas Employees Retirement System, was named executive director of the AIF Institute, spokesman Fred Schweinfurth confirmed in an email. The position is new.
Ms. Kassam will oversee the development and launch of the AIF Institute s three centers of excellence: the Center for ESG and Sustainable Investing, Center for Insurance Investing and Center for Private Capital. The goal is to launch these programs this year. She will report to AIF Institute President Melissa Waller.