University of Texas Investment Management Co. invested or committed a total of $2.995 billion of endowment assets to new and existing external money managers in the three months ended May 31, according to an investment transaction report presented at a board meeting on Wednesday.
UTIMCO's largest single investments and commitments in the quarter ended May 31 were $400 million to fixed-income manager Colchester Global Investors and $150 million to natural resources manager The Mitchell Group.
Allocations of $100 million each were committed to an absolute-return strategy managed by Bain Capital; hedge fund Viking Global Equities Fund; hedge fund Farallon Asia Special Situations Fund II; private equity fund Kerogen Energy; OZ Credit Opportunity Fund, managed by Och-Ziff Capital Management Group; Wheelock Street Real Estate Fund; and private equity fund Post Oak Energy Partners and a private equity co-investment, both managed by Post Oak Energy Capital.
Additionally, a total of $1.645 billion was invested or committed to a mixture of alternative and traditional investment managers in the three months ended May 31.
UTIMCO, based in Austin, manages the endowment and operating funds of the University of Texas System, Austin, and Texas A&M University System, College Station. As of May 31, the endowment funds totaled $19.2 billion and operating funds totaled $7.7 billion.
Separately, as of May 31, returns of its largest endowment pool, the $12.8 billion Permanent University Fund, were -1.69% for the quarter; -0.48% for the fiscal year to date; -3.17% for the year; 11.27% for three years; 1.67% for five years; and 6.93% for 10 years, according to an investment report.
As of the same date, returns of the $6.9 billion General Endowment Fund were -1.72% for the current quarter; -0.51% for the fiscal year to date; -3.17% for the year; 11.29% for three years; 1.71% for five years; and 7.03% for 10 years. Multiyear returns are annualized.
