Texas Teachers’ private equity program gets home-grown oversight

We have an update on the private equity program at the Teacher Retirement System of Texas.

The Teacher Retirement System of Texas’ former private equity chief Richard Hall left earlier this year to join Harvard Management Company to run the private equity and venture capital portfolios. The system is not running a search for Hall’s replacement.

Instead, since Hall’s departure, the Teacher Retirement System of Texas’ private equity portfolio has been overseen by Neil Randall, senior director of private equity.

Randall was appointed to the role by Eric Lang, senior managing director, who took on oversight responsibility for private equity after Hall’s departure. Lang is also responsible for real assets. Randall reports to Lang.

The around $126.1 billion system may commit between $2 billion and $3 billion to private equity in 2014 to maintain its target allocation, peHUB sister publication Buyouts reported late last year.

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