Mike Owen

The Texas Treasury Safekeeping Trust Company (TTST) is a special purpose trust company currently managing $3 billion in cash deposits for the state treasury. The purpose of the trust company is to provide a means for the comptroller to obtain direct access to services provided by the Federal Reserve System and to enable the comptroller to manage, disburse, transfer, safe-keep, and invest funds and securities more economically and efficiently. The fund has a very aggressive allocation target towards alternative investments, and presently devotes 45% ($1.35 billion).