University of Houston System invested or committed a total of $49.7 million to three managers for its endowment fund, confirmed Raymond Bartlett, treasurer of the system.
The $585 million endowment hired Oldfield Partners to run $30 million in emerging markets equity and invested $12.7 million in Van Eck Global Hard Asset Fund, an inflation-hedging fund. Funding is coming from rebalancing.
The endowment also committed $7 million to EnCap Flatrock Midstream Fund III, which provides growth capital to the midstream oil and gas industry. It committed $3 million to the predecessor fund.
Investment consultant Cambridge Associates assisted.
Separately, the endowment redeemed a $5.7 million investment in Asian Century Quest Offshore Fund, a long/short Asian equity hedge fund managed by Asian Century Quest Capital. Mr. Bartlett said the redemption was made because of changes in the investment process and team.