Texas Teachers opens office in London
The Teacher Retirement System of Texas is opening its first international office in London. The office is set to open in November, according to a statement.
The $132 billion pension fund expects this move to increase the number of co-investment opportunities and to enable Texas TRS to strengthen its investment relationships overseas.
“We are confident that our new London office will give Texas TRS a strategic advantage in terms of identifying investment opportunities in the United Kingdom and Europe that can deliver greater returns at a lower cost to our members,” said R. David Kelly, chairman of the Texas TRS board, in a statement.
Two members of the Texas TRS investment team will be relocated to London, where they will be joined by one European investment professional. Vaughn Brock will direct operation in the London office; he is the former director of special projects for the retirement system’s investment management division.