Reuters – Texas Teachers’ Fund to Buy Stake in Formula One

The $100 billion Teacher Retirement System of Texas is to buy a stake in Formula One racing from the estate of collapsed investment bank Lehman Brothers, writes Reuters. The pension fund will buy a three percent stake in the motor racing business from the Lehman Brothers’ estate in a deal worth about $200 million, writes Reuters. This follows a string of powerful investors that have bought into Formula 1 as owner CVC gradually reduces its stake.

Texas Teachers, 6th Biggest Pension in U.S., Names New Chief

Texas’s $105 billion Teacher Retirement System, America’s sixth largest pension fund and a big friend of private equity, on Monday named Brian Guthrie, 41, as its new executive director. He will replace current head Ronnie Jung on September 1st, who announced last year that he intended to step down from the role. Jung had been […]

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