Searches and Hires

University of Houston System commits $15 million to private equity

University of Houston System committed $15 million total to two private equity funds on behalf of its $572 million endowment, according to a webcast of Thursday's endowment management committee meeting.

The system committed $7.5 million each to Francisco Partners V, a buyout fund managed by Francisco Partners Management, and EnCap Flatrock Midstream Fund IV, an oil and gas fund.

The system previously committed $7.5 million to predecessor fund Francisco Partners IV and $3 million and $7 million, respectively, to EnCap Flatrock Midstream Fund II and EnCap Flatrock Midstream Fund III.

The endowment has a near-term private equity/venture capital target allocation of 12%.