Established in 1845, as a perpetual fund for free public schools. In 2021 Texas Legislature passed a Bill authorizing the creation of the Texas Permanent School Fund Corporation. Texas Permanent School Fund Corporation (Texas PSF) is a special-purpose governmental corporation charged with managing and investing the assets of the Texas Permanent School Fund. Texas PSF’s mission is to generate superior long-term investment returns for the benefit of Texas K-12 public schools.