According to Bloomberg Britt Harris at age 45 was what most people would consider a success. Bridgewater Associates LP’s Ray Dalio and Bob Prince had just tapped him to be chief executive officer of the world’s largest hedge fund. Then, in late 2006, a headhunter approached him about taking the top investing job at the Teacher Retirement System of Texas.
It was a place where he could make an impact.
With $110.3 billion under management as of March 31, TRS is the fifth- largest
public pension plan in the U.S. At TRS,
Harris is ramping up stakes in so- called alternative assets ranging from
private equity to real estate to hedge funds. The Texas fund had about a third
of its money in these investments at the end of March -- more than any of the
10 largest public pension funds, according to London researcher Preqin Ltd. The
California Public Employees’ Retirement System has 25 percent of its $237.6
billion of assets in such investments…
Find out more at http://www.bloomberg.com/news/2012-06-06/texas-teachers-taking-alternative-investing-to-new-risks.html
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