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Texas Endowment Finds Something to Like About Downtrodden Energy

  • Fund adds to energy sector bet with stakes in Oaktree, Kerogen
  • Money manager has $2 billion natural resources portfolio

The University of Texas saw the value of its $24.1 billion endowment shrink as oil and gas prices plunged. That hasn’t stopped its managers from making new bets on the energy sector.

The University of Texas Investment Management Co., known as Utimco, has pledged money to an Oaktree Capital Group LLC buyout fund that focuses on energy companies and others that invest in more traditional oil and gas ventures, according to documents obtained by Bloomberg. The investments were made in the year through Nov. 30.