UT Endowment Eyes Big Hedge Fund Buy

Feb 13 2013 | 12:03pm ET

The University of Texas' endowment, one of the richest in the world, may invest an additional $345 million in hedge funds over the next six months.

Specifics were lacking in the documents presented to the University of Texas Investment Management Co.'s board last week, Pensions & Investments reports. But they show that the endowment is likely to invest $60 million in a European equity long/short hedge fund, as well as make additional investments of $75 million and $25 million to two existing investments, an unnamed equity long/short fund and a discretionary global macro fund. An emerging markets manager will also get a bump up, by an undisclosed amount.

In addition, UTIMCO is mulling another $60 million bet on an equity long/short hedge fund, specifically one with less than $500 million in assets, and a $100 million mandate for another emerging markets manager.

The news is not all good for the endowment's stable of alternative investment funds: UTIMCO staff said that it was redeeming entirely from one equity long/short hedge fund, pulling between $30 million and $60 million from a distressed credit manager and making staggered redemptions from an emerging markets manager.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of