New Head of Private Equity for the Texas Teachers’ Retirement System Says Private Equity is Essential
From Private Equity International, “Meet Texas Teachers’ new head of private equity”
By Christopher Witkowsky
Rich Hall, who was recently named private equity head at the pension system, said the asset class is essential to the fund generating the returns it needs to meet its obligations.
Rich Hall, the Teachers’ Retirement System of Texas’ new head of private equity, believes the facts tell the whole story about the benefits of private equity — regardless of the negativity surrounding the asset class stemming from attacks on US presidential candidate Mitt Romney’s past career as head of Bain Capital.
During a recent interview with Private Equity International, Hall cited statistics that illustrated private equity’s benefits to the system: “We know that over the last 12 years our private equity portfolio has generated returns that are more than $3 billion higher than if we had invested that money in the public stock market.”
The benefits of the asset class make the “politicisation” of private equity in this year’s US presidential campaign unfortunate, he said.
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