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Texas Tech endowment slates $30 million for direct lending fund, co-investments

Texas Tech University System's endowment, Lubbock, committed $15 million to Metropolitan Partners Fund IV and $15 million for co-investments, said Timothy Barrett, chief investment officer, in an email.

The direct lending fund is managed by Metropolitan Partners Group. It is a first-time relationship.

The commitment will fall under the endowment's private credit allocation, which has a 10% target.

The endowment was roughly $1.15 billion in assets.