Texas Permanent School Fund

United States – Texas US$ 37.7 Billion Origin: Commodity

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Established: 1854
Transparency Rating: 9
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Firm Investment Style: Mixed
Entity Structure: Fund

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Main Office
Texas Permanent School Fund
400 West 15th Street
Austin, Texas, 78701
United States

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Created by a legislative body in 1854, the Texas Permanent School Fund was initially funded by an appropriation of US$ 2 million. The money was to be for the benefit of Texas public schools.

The funds were available as an outcome of a US$ 10 million dollar payment from the U.S. government in exchange for giving up claims to western lands claimed by the former Republic of Texas.

Fast forward to 1953 when the U.S. Congress passed the Submerged Lands Acts that relinquished to coastal states all rights of the U.S. navigable waters within state boundaries. A key source of funding for the fund is its investment returns and oil, gas and mineral royalty payments and leases from the land.