Texas State Board of Education, Austin, approved rehiring NEPC as the investment consultant of the $29.9 billion Texas Permanent School Fund, which it oversees.
The board issued an RFP in February due to the impending expiration of NEPC’s contract on Aug. 31. The new contract will be for three years, with two allowable one-year extensions.
Wilshire Associates was the other finalist.
SBOE approval was based on the recommendation of the board’s finance committee at its meeting on July 16.
Also, the board approved the finance committee’s recommendation to commit up to €50 million ($55.8 million) to Tristan Capital Partners’ European Property Investors Special Opportunities 4.