Video: Texas Pension Fund Manager Talks about the Importance of PE

Steve LeBlanc, a senior managing director for private markets for the Teacher Retirement System of Texas (TRS), yesterday appeared on CNBC’s Fast Money to discuss the important relationship between his pension fund and private equity.

In the interview, LeBlanc explained the need to outperform the public equity markets in order to provide for the 1.3 million teachers and public school employees who depend on pension income. Ten percent of TRS is invested in private equity, which has served as an important source of returns for the fund. Over the past five years TRS’s private equity investments are up 11.9 percent.

Watch the full interview below: