The University of Texas endowment fund, one of the largest in the U.S., has invested more than $1 billion in alternative investment funds.
The $27.3 billion University of Texas Investment Management Co. gave the largest chunk of the $1.067 billion handed out in the three months to Feb. 29 to Mitchell Group, specifically its natural resources fund. Four funds received $75 million each, Pensions & Investments reports: Carmel Partners, Ford Financial, Mount Kellett Capital Partners and NGP Natural Resources. Victoria South American Partners was awarded $65 million.
Three other funds got $50 million each: American Industrial Partners, the Blackstone Group and Viking Global Investors.
The mandates were split between new and existing managers for UTIMCO. In addition, the endowment redeemed a total of $681 million during the same period.