TRS hands $6bn to KKR and Apollo, grows strategic partners programme

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US - The Teacher Retirement System of Texas has agreed to issue $6bn combined to Kohlberg Kravis Roberts and Apollo Global Management expanding its strategic partnership programme to the private markets.

Each private equity firm will run up to $3bn and will have the discretion to run mandates which span the private markets. The managers are given a wide amount of investment latitude, and TRS receives increased...

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