KKR, Apollo Land $6B From Major Pension Fund

Law360, New York (November 7, 2011, 3:35 PM EST) -- Kohlberg Kravis Roberts & Co. LP and Apollo Global Management LLC are continuing to evolve as private equity powerhouses and have each partnered with a major Texas pension fund to manage $3 billion in assets, the firms announced Monday.

The Teacher Retirement System of Texas tapped both KKR and Apollo to manage $3 billion in capital across their investment platforms, marking a new and potentially transformative alliance between the institutional investor and the publicly traded buyout firms, which are taking on greater long-term asset management duties,...
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