Texas PSF taps veteran to lead direct and co-investments strategy

Texas Permanent School Fund, a $60B public pension pool supporting K-12 education in Texas, has named Chris Eckerman as vice president of direct and co-investments. The appointment aligns with the fund's 2026 strategic plan to streamline its portfolio, reduce operating costs, and build a more integrated exposure to private markets.

Mr. Eckerman, who joined on December 15, brings more than a decade of experience in direct and co-investment strategy after leading the co-investment function at a major U.S. public pension system. His remit centers on evaluating opportunities directly and coordinating co-investments with external managers to optimize governance, fees, and alignment with public policy goals.

The move underscores a broader shift among large state funds toward direct and co-investment approaches. By reducing reliance on traditional fund structures, public pensions can pursue tighter cost control, better fee economics, and enhanced transparency across private markets exposure.

Co-investments can lower management fees and carried-interest exposure when diligence and risk controls keep pace. For Texas, the strategy could unlock access to selective opportunities across infrastructure, technology, and essential services while preserving liquidity and alignment with long-term school funding obligations.