Texas Tech University System, Lubbock, rehired NEPC as investment consultant for its $1.2 billion long-term investment fund of endowments.
The system's board of regents approved the rehiring at its Dec. 12 meeting, a webcast of the meeting shows.
The system issued an RFP in July. Gary Barnes, the system's vice chancellor and chief financial officer, said in the webcast that he recommended rehiring NEPC "for providing the best value." Eight firms submitted proposals; no finalists were named.
As of Sept. 30, the system's long-term investment fund's actual allocation was 30.4% private investments; 27% equities; 20.1% fixed income; 12.4% diversifying assets; 8.2% cash and alpha pool; 1.2% portfolio hedge; and 0.7% liquidating assets.
Chris M. Gailey, operations manager in the system's office of investments, did reply to requests for further information.
