Searches and Hires

University of West Florida Foundation commits to private equity fund of funds

University of West Florida Foundation Inc., Pensacola, committed $5 million to private equity fund of funds Portfolio Advisors Private Equity Fund X, show recently released executive committee meeting minutes.

The $83 million foundation had a total of $2 million in three prior Portfolio Advisors funds as of Dec. 31, according to its most recent investment report: Private Equity Fund V (Offshore), Private Equity Fund VII and Secondary Fund III.

As of Dec. 31, the actual allocation to private equity was 3%; the target is also 3%.

Foundation officials could not be immediately reached to provide further information.