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Texas Permanent May Seek Manager For $685M

The $22.8 billion Texas Permanent School Fund, Austin, may float a request for proposals early in 2012 seeking a commodities manager to manage approximately $685 million.

The $22.8 billion Texas Permanent School Fund, Austin, may float a request for proposals (RFP) early in 2012 seeking a commodities manager to manage approximately $685 million, Pensions & Investments reports. The panel on school finance/permanent school fund suggested the search following a request from Holland Timmins, the permanent fund's executive administrator and CIO.

Timmins asked to look for a manager to handle 50 percent of the fund's 6 percent real return allocation in long-only or long-short commodity investments. The search will be launched if cleared by the Texas State Board of Education, which administers the fund.

Click here for the story from Pensions & Investments.

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