Texas Tech University System endowment, Lubbock, committed or invested $85 million with four managers, said Chris Gailey, section manager, reporting and investment analysis, in an e-mail.
To bring the $1 billion endowment closer to its 10% target to liquid real assets, the system invested $20 million in Halcyon Energy, Power & Infrastructure Capital Fund, a long/short equity fund managed by Halcyon Asset Management, and $20 million in The 1609 Fund, a reinsurance fund managed by ILS Capital Management.
To bring the endowment closer to its 20% alpha pool target, the system committed $25 million to Marathon Loan Opportunities Fund, a structured credit fund managed by Marathon Asset Management.
Also, the system committed $20 million to Corrum Capital Management for a customized private credit fund-of-funds strategy. The endowment has a 10% target allocation to private credit.
Funding for the new allocations came from a mix of partial and full redemptions. The redemptions will help “bring the portfolio into allocation,” Mr. Gailey wrote. The system determined that Halcyon will replace a long-only manager. Mr. Gailey declined to name the manager or other managers whose funds are being redeemed.
