Ex-Students’ Association of the University of Texas, Austin, hired Covariance Capital Management to provide outsourced chief investment officer services for its $93 million endowment, said Jeff Nash, the association’s chief financial officer, in an e-mail.
An RFP was issued in late 2015 as part of the alumni association’s regular business process. Incumbent OCIO provider, The Presidio Group, rebid.
Covariance is a subsidiary of TIAA-CREF.
