Searches and Hires

University of Houston System allocates $44.5 million to 4 managers

University of Houston System allocated $44.5 million to four managers on behalf of its $572 million endowment, according to a webcast of the March endowment management committee meeting.

The system hired Global Alpha Capital Management to manage $22 million in international developed markets small-cap equities.

Funding is coming from rebalancing.

The system also committed $7.5 million each to Penzance D.C. Real Estate Fund, a D.C. metropolitan-focused real estate fund managed by Penzance Management; Kelso Investment Associates X, a North American middle-market buyout fund managed by Kelso & Co.; and Hastings Equity Fund IV, a lower, middle-market buyout fund focused on oil field services managed by Hastings Equity Partners.

A spokeswoman could not immediately be reached for additional information.

Investment consultant Cambridge Associates assisted with the changes.