Fri, Feb 24, 2017
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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio

  3. Legal - Fannie, Freddie shares dive after U.S. appeals court ruling[more]

    From Reuters.com: Shares of Fannie Mae and Freddie Mac tumbled more than 30 percent on Tuesday after a U.S. appeals court shut down efforts by hedge funds and other investors to pursue numerous legal claims accusing the U.S. government of seizing their profits following taxpayer bailouts. By a

  4. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  5. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012