University of Houston System allocated $44.5 million to four managers on behalf of its $572 million endowment, according to a webcast of the March endowment management committee meeting.
The system hired Global Alpha Capital Management to manage $22 million in international developed markets small-cap equities.
Funding is coming from rebalancing.
The system also committed $7.5 million each to Penzance D.C. Real Estate Fund, a D.C. metropolitan-focused real estate fund managed by Penzance Management; Kelso Investment Associates X, a North American middle-market buyout fund managed by Kelso & Co.; and Hastings Equity Fund IV, a lower, middle-market buyout fund focused on oil field services managed by Hastings Equity Partners.
A spokeswoman could not immediately be reached for additional information.
Investment consultant Cambridge Associates assisted with the changes.