Mon, May 2, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n