January 2014 Committee on School Finance Permanent School Fund Item 8

Presentation by Private Equity Managers on Investment Management Services
Provided to the Permanent School Fund

January 30, 2014

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 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 $1.675 billion during the 2014-2015 biennium.

PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.

PUBLIC COMMENTS: None.

ALTERNATIVES: None.

OTHER COMMENTS AND RELATED ISSUES: None.

Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund