Apollo Global Management will be managing $3 billion in commitments from Teacher Retirement System of Texas (TRS). The two parties have entered into a long-term strategic partnership for this purpose. The tailored framework provided by Apollo is expected to enable the $107 billion system to take advantage of opportunities across a variety of investment strategies and market situations.
The partnership involves $3 billion of long-term committed capital for new funds and investment strategies and significant recycle provisions for the commitments. Elements of the partnership also include, among other things, discretionary allocation of the capital within pre-decided product groups and customized fee and priority return provision.
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