Texas’ $55 Billion University Endowment Fund Is Wary Private Debt Market
- Utimco’s recent investment returns trounced Ivy League peers
- Hall stepping in as CEO after serving as investment chief
University of Texas
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The head of the second-largest US university endowment is pouring cold water on one of Wall Street’s hottest markets: private credit.
Rich Hall, who took over as chief executive officer of the University of Texas/Texas A&M Investment Management Company in July, said leverage in private credit makes it too risky to boost allocations, even as other endowments and pension funds have been funneling money into what’s now a $1.6 trillion global market.