As a member of the Board of Trustees for the Teachers’ Retirement System of Louisiana (TRSL) for the past 24 years, I often get asked questions about the board’s investment goals and strategies. Our primary goal is to ensure the system’s portfolio has the right mix of investments to fund retirements in the long term.
A recent question about our portfolio concerned investments with Texas Pacific Group (TPG), one of the largest and most successful private equity firms in the U.S. I am pleased to report that since our initial investment with TPG seven years ago, the retirement system has earned $60 million. Like TRSL, many of the country’s largest pension systems are also TPG investors that recognize the value this firm brings to their portfolios.
Investment decisions at TRSL, including the decision to partner with TPG, are preceded by extensive research conducted by our credentialed investment staff and professional external advisers. This routine and long-standing practice of proper due diligence has served TRSL well, considering our alternative assets and real estate portfolio has earned $2.2 billion over the past 10 years.
I am very proud of the work the TRSL Board and its advisers have done to grow the value of the system’s assets from $3.9 billion when I first became a trustee to $16.7 billion today. And, I am confident that we will continue to be able to do the important work of providing a secure retirement for Louisiana’s teachers in the future.
Sheryl R. Abshire
board vice chairwoman and investment committee chairwoman
Teachers’ Retirement System of Louisiana