University of Houston System invested $10 million in Proxima Capital Master Fund, a long/short equity hedge fund managed by Proxima Capital Management, for its $592 million endowment, said a recording of the endowment management committee meeting last week.
The funding source could not be learned by press time.
Separately, the management committee committed up to $7.5 million to Francisco Partners IV, a technology buyout fund.
Investment consultant Cambridge Associates assisted with both the investment and the commitment.
The endowment's long-term target allocations to private investments and hedged long/short equity are 25% and 10%, respectively.
A spokeswoman at the university could not immediately be reached for additional information by press time.
