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Texas Teachers’ Gets Serious About Emerging Managers
The massive pension fund has hired a new program chief from its peer in Illinois.
The $150 billion Teacher Retirement System of Texas has hired Kirk Sims to lead its growing emerging manager investment program, the Austin-based fund announced Friday during a trustee meeting.
Sims’s position at TRS will include oversight of the existing $5.7 billion program, in addition to “this year’s roll-out of the system’s new $3 billion commitment to the Emerging Manager 3.0 Program. Itfocuses on innovatingwith emerging investors to further enhance the trust’s value,” the announcement said.
Sims has been working in a similar role at TRS’s counterpart in Illinois, overseeing nearly $8 billion dedicated to emerging and minority managers. Before joining the state fund in late 2013, Sims worked in research for Prudential Retirement’s manager-of-managers platform and at First Trust Portfolios.
His hiring represents “a next chapter in a long-standing, productive program,” according to TRS board chairman Jarvis Hollingsworth. During its initial launch in 2004, Hollingsworth was a TRS board member.
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“当我们开始TRS新兴项目经理,we did so with the belief that small and emerging managers couldoutperform their larger counterpartsand deliver important portfolio diversification,” hesaidat an event in April 2018, when TRS revealed plans to add $3 billion to the strategy.
On March 1Sims is to take over from COO Sylvia Bell, who has been leading the initiative alongside TRS’s operations.
A Howard University graduate, Sims holds an MBA from Columbia Business School.