University of Texas Investment Management hired Ironbridge Capital to handle $50 million in active domestic small-cap equities. UTIMCO, which manages the Austin-based university's $16 billion endowment, also committed an additional $50 million to the Eminence Fund, bringing its total investment in the hedge fund to $100 million and added $30 million to the Oaktree Capital hedge fund, bringing the total investment to $97.5 million. Funding was from cash flow.
The investment decisions were not due to any strategic change in policy, said UTIMCO spokesman Greg Lee. "We made a decision that we want to continue to grow these funds. They've been very beneficial in the past."