Venture capital capacity limits restrict large public pension allocations
Jace Auby · Jase Auby - Risk, Size, and Talent at Texas Teachers (EP.404) · Sep 9, 2024 · at 26:26
Jase Auby is CIO of the Teacher Retirement System of Texas (TRS), managing around $200B in pension assets. He explains why venture capital is difficult to penetrate at immense scale.
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“So venture capital, for example, can be difficult for us to ask because the gating item for venture capital is oftentimes not capital. We have lots and lots of capital, but if someone has a five hundred million dollar fund and we say we want two hundred million of it, they're going to say you can't have that much.”
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