Overview
Texas Permanent School Fund Corporation manages and invests the assets of the Texas Permanent School Fund, the state's oldest sovereign wealth fund. Its investments aim to generate returns that fund a portion of public education expenses such as textbooks and technology, contributing to Texas school funding since 1969. The Fund also runs a Bond Guarantee Program that uses its AAA credit rating to help independent and charter districts borrow money at lower interest rates, freeing more funds for school improvements and reducing costs for taxpayers. Unlike typical private funds, Texas PSF combines asset management with a state-backed guarantees program, leveraging the fund’s size and public backing. The goal is to protect and grow the endowment to support current and future Texas schoolchildren while lowering financing costs for school districts.
Work here?Claim your company
Simplify's take
What believers are saying
- S&P reaffirmed the Bond Guarantee Program AAA rating on September 3, 2026.
- On August 20, 2026, Texas PSF approved $1.2 billion for 2028-29 schools.
- Velocity and Elevate partnerships expand alternatives exposure into sports, media, and collegiate infrastructure.
What critics are saying
- Romero v. Texas PSF Corp. affirmed sovereign immunity on August 27, 2026.
- Texas legislators can rewrite PSF distribution and immunity rules before 2027.
- Oil-and-gas royalties from the GLO still fund distributions; commodity slumps hit transfers.
What makes Texas Permanent School Fund Corporation unique
- Texas PSF is Texas’s constitutional perpetual fund, created in 1845.
- Its AAA-backed Bond Guarantee Program supports over $139 billion in school bonds.
- It combines public-school distributions with large-scale alternatives investing through specialized partnerships.
Help us improve and share your feedback! Did you find this helpful?