Thu, Nov 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Head of Texas Teachers Emerging Manager Program departs

Monday, July 14, 2014
Opalesque Industry Update, for New Managers - Stuart Bernstein, director of the Teacher Retirement System of Texas (TRS) Emerging Manager Program, has elected to return to the private sector and join former TRS Director of Private Markets Steve LeBlanc at CapRidge Partners, LLC. Over the last six years, Bernstein has overseen development and management of the Emerging Manager Program and Private Markets Strategic Partnership Program at TRS.

“Stuart has done an outstanding job developing a world-class emerging manager program for TRS,” said TRS Executive Director Brian Guthrie. “Now, we look forward to building upon that success and continuing to be recognized as a leader in this space.”

To ensure minimal disruption during this important transition period, TRS has engaged the advisory services of Lenox Park LLC. Lenox Park will work closely with TRS executive management and remaining Emerging Manager Program staff to fill Bernstein's role and work toward a seamless transition while maintaining TRS' leadership position in the emerging manager space.

TRS has reaffirmed a strong commitment to its emerging manager program and the important role it plays in the fund’s overall investment strategy.

"TRS has put in place a world-class emerging manager program,” said Lenox Park Managing Partner Jason Lamin. “The thoughtfulness with which they are approaching this transition speaks volumes about their commitment to emerging managers."

TRS has been instrumental in the emerging manager space across the industry, advocating for smaller and start-up managers while committing and managing a $2 billion emerging manager portfolio. The program has expanded its asset classes, increased dollar commitments and improved returns. It has been recognized across the industry and has received the following awards: NAIC Pacesetters Award, Toigo Innovative Leadership Award, Consortium Impact Award, and the AAAIM Capital Access Award. The TRS program has grown to a team of four full-time staff members focused on the space.

TRS delivers retirement and related benefits that have been authorized by the Texas Legislature and manages a $130 billion trust fund established to finance member benefits. More than 1.3 million public education employees, higher education employees and retirees participate in the system.

press release

www.trs.state.tx.us

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. CTAs , event-driven strategies lead hedge funds recovery in mid-November[more]

    Komfie Manalo, Opalesque Asia: November’s performance proves to be in sharp contrast to the previous month, with equities further consolidating their upswing last week, according to the latest Lyxor Asset Management’s Weekly Brief. CTA funds als

  4. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  5. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed