Investor profile

The Teacher Retirement System (TRS) of Texas looks after the retirement security of public education employees and is the state’s largest public retirement system, by both membership (1.6+ million people) and assets. In 2020, the pension plan’s funded ratio was 76.8%, which even if far from ideal, was better placed than its Californian counterparts. The fund maintains a fairly sizable PE portfolio (US$ 23.7 billion at the latest available date) and infrastructure and ENR portfolio (US$ 8.8 billion at the latest available date).