By David G. Barry
Keith Garrison recently
retired as Texas Christian University’s director of alternative assets,
a position he had held since November 2007.
In his role at the $2.4 billion endowment, Garrison directed the investment
process for private equity, real estate, and other private market investments,
including policy/strategy development, due diligence underwriting and portfolio
management. TCU’s bio of Garrison said the endowment’s target allocations for
alternatives were 13% for private equity, 4% for real estate, 10% for minerals
and energy, and 6% for opportunistic.
Garrison joined TCU after 18 years at the Teacher Retirement System of Texas
(TRS), where he held a series of roles, departing as director of private
markets.
His retirement comes less than a year after TCU’s first chief investment officer,
James “Jim” Hille, retired after 15 years in the post. Jason Safran,
who joined TCU in 2012, was named CIO in December. He was out of the office and
did not immediately respond to an inquiry from Markets Group about TCU’s plans
to replace Garrison.
According to TCU’s website, the investment team currently consists of Safran, Senior
Analysts Lauren Farrelly Searway and Demi Fritz, and Operations
Analyst Angela Kenny.