University of Houston System is redeeming a long/short equity hedge fund investment in its endowment fund managed by Maverick Capital, confirmed Raymond Bartlett, treasurer.
The endowment expects a $5.8 million redemption. Recommendations on where to allocate the assets are pending, Mr. Bartlett said in an e-mail. Maverick Capital was terminated for personnel changes.
The endowment has about $575 million in assets.