# Teacher Retirement System of Texas

Teacher Retirement System of Texas is a Pension Fund based in Austin, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Austin, United States
- **Region:** North America
- **Address:** 1000 Red River Street, Austin, TX 78723, United States
- **Founded:** 1937
- **Assets under management:** 225300 (Altss estimate)
- **Website:** trs.texas.gov
- **LinkedIn:** https://www.linkedin.com/company/trsoftexas

## Regulatory record

- **Reports private funds:** No

## About

Teacher Retirement System of Texas invests funds and delivers retirement and related benefits to Texas educators. TRS began in 1937. It serves over 2.1 million members, manages $225 billion in assets and stands as the largest public retirement system in Texas.

## Sectors

- Private Equity
- Real Estate
- Infrastructure
- Venture Capital

## Offices

- London, United Kingdom
- Singapore

## People

- Brian Guthrie — Executive Director
- Jase Auby — Chief Investment Officer
- Carolyn Hansard — Managing Director, Energy, Natural Resources & Infrastructure
- Grant Walker — Managing Director, Real Estate

## Questions

### Who runs investment decisions at Teacher Retirement System of Texas?

Jase Auby serves as Chief Investment Officer. Brian Guthrie acts as Executive Director with oversight of the full organization. Carolyn Hansard and Grant Walker lead the Energy, Natural Resources & Infrastructure and Real Estate teams respectively.

### Does Teacher Retirement System of Texas participate in fund commitments or only direct deals?

TRS commits to external funds and also executes direct co-investments. Examples include commitments to Thoma Bravo Discover Fund V and Starwood Distressed Opportunity Fund XIII alongside co-investment vehicles such as DB Yogi Co-Invest.

### What investment stages does Teacher Retirement System of Texas typically target?

The system targets buyout, growth, venture and special situations strategies. Ticket sizes range from $10 million to $1.5 billion. Investment horizons span 10 to 30 years.

### How does Teacher Retirement System of Texas source proprietary deal flow?

TRS maintains relationships with managers such as Starwood Capital Group and Quantum Energy Partners. It also participates in emerging manager programs and co-hosts an annual conference with the Employees Retirement System of Texas to identify new relationships.

### What is Teacher Retirement System of Texas known posture on co-investments alongside external GPs?

TRS executes co-investments in real estate and infrastructure. Documented vehicles include DB Yogi Co-Invest with DigitalBridge and Project CS Co-Invest Fund with Thoma Bravo.

## Related profiles

- [Blackstone Private Wealth Solutions](https://altss.com/profile/blackstone-private-wealth-solutions)
- [CFG Pension Plan](https://altss.com/profile/cfg-pension-plan)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/teacher-retirement-system-of-texas

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