This website will be unavailable from Thursday, May 30, 2024 at 6:00 p.m. through Monday, June 3, 2024 at 7:00 a.m. due to data center maintenance.
Amend HB 2559 by adding the following appropriately numbered
SECTIONS to the bill and renumbering subsequent SECTIONS of the
bill appropriately:
SECTION 1. Section 815.301, Government Code, is amended by
adding Subsections (g) and (h) to read as follows:
(g) In awarding contracts to private professional
investment managers under Subsection (c) or otherwise acquiring
private financial services, the board of trustees shall make a good
faith effort to award contracts to or acquire services from
qualified emerging fund managers.
(h) For purposes of Subsection (g):
(1) "Emerging fund manager" means a private
professional investment manager that manages assets of not more
than $2 billion.
(2) "Private financial services" includes pension
fund management, consulting, investment advising, brokerage
services, hedge fund management, private equity fund management,
and real estate investment.
(i) The retirement system shall report to the board of
trustees on the methods and results of the system's efforts to hire
emerging fund managers, including data disaggregated by race,
ethnicity, gender, and fund size.