Texas Pension With $40 Billion to Hire Private Markets Investors

Texas Municipal Retirement System is hiring three investment staff as it looks to expand direct investment capabilities in private markets, according to Yup Kim, chief investment officer of the $40 billion pension fund.

Philip Hunter O’Brien will join as a managing director and head of private equity, Kim said in a statement. O’Brien, who previously led technology and consumer direct private equity investments for Caisse de Dépôt et Placement du Québec, will also sit on the staff investment committee.