$60.6 billion Texas Permanent is pushing deeper into private credit less than two years after launching the program on July 1, 2024.
Legacy holdings and uneven performance are complicating that buildout, leaving parts of the young portfolio underperforming even as the fund works to narrow the gap.
The Austin-based public school endowment has still made notable progress in establishing the strategy, showing continued commitment despite early execution challenges.
The move highlights how large public investors are trying to scale private credit quickly while managing inherited assets and the pressure for stronger returns.
Is the Texas school fund's move a blueprint for public endowments or a risky privatization of public wealth management?
As Texas bets its school fund on private credit, what is the backup plan to protect school funding from market downturns?
How does Texas's $60B school fund guard against conflicts of interest now that its former investment team is a paid vendor?