University of Houston System's endowment management committee approved three new commitments totaling $15 million on behalf of the system's $815 million endowment.
The committee approved commitments of $5 million each to buyout fund Francisco Partners VI; Penzance DC Real Estate Fund II, a value-added real estate fund managed by Penzance Properties; and buyout fund Thoma Bravo XIV at its Feb. 27 meeting, a webcast of the meeting shows.
The endowment previously made commitments of $5 million to Francisco Partners V in 2017, $7.5 million to Penzance DC Real Estate I in 2018 and $7.5 million to Thoma Bravo XIII in 2018.
As of Dec. 31, the actual allocation to private equity/venture capital was 15.1%.
Investment consultant Cambridge Associates assisted.
