U
UTIMCO
Pension fund · Founded 1996 · Austin, United States
UTIMCO was established to manage investments for the University of Texas System's funds, becoming the first investment corporation formed by a public university system
Who UTIMCO is.
Where the institution came from, whose capital it manages, and how that capital is allocated — from Dealroom's LP research.
Historical Background
- The University of Texas/Texas A&M Investment Management Company (UTIMCO) was established in March 1996 as a 501(c)(3) corporation.
- It holds the distinction of being the first external investment corporation created by a public university system in the United States, formed to manage the assets of The University of Texas and Texas A&M Systems.
Source of Capital
- UTIMCO's capital is derived from the endowment and operating funds of The University of Texas and Texas A&M University Systems.
- The organization manages several distinct funds, including the Permanent University Fund (PUF), which is the largest public university endowment in the country, and various operating funds intended for shorter-term institutional needs.
Major Events
- The investment firm made a notable acquisition of physical gold bullion, valued in the hundreds of millions of dollars.
- UTIMCO established a new allocation to Real Estate Investment Trusts (REITs) following a strategic asset allocation review.
- For the 2026 fiscal year, the board approved a new investment policy that increases allocation targets for private equity and hedge funds.
Allocation Strategy
- The firm invests across a broad and diversified range of asset classes, including public equities, fixed income, real estate, private equity, and venture capital.
- UTIMCO's strategy includes a focus on complex and illiquid assets to generate higher returns, and it utilizes strategic partnerships with external managers for tactical allocation and security selection.
- While investing across stages, the venture capital portfolio has shown a preference for early-stage and emerging funds.
The funds UTIMCO backs.
UTIMCO is a limited partner in 293 funds. 30 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.
How UTIMCO’s fund book is spread.
The 293 funds UTIMCO backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters, across the 289 of 293 with a location on record.
- North America 21474%
- Europe 3913%
- Rest of world 3612%
United States 210 · United Kingdom 22 · Brazil 6 · Hong Kong 6
How established those managers are
Managers grouped by how many funds they have raised. 68 emerging (three funds or fewer), 79 established — across the 147 of 293 with a fund history on record.
The companies UTIMCO backs directly.
UTIMCO holds 4 companies directly, separate from the funds it commits to as a limited partner.
How those direct holdings break down by headquarters country, sector, entry stage and current growth stage. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.
-
USA4
-
Food2
-
Education1
-
Enterprise Software1
-
Series B+3
-
Series A1
-
Breakout Stage2
-
Late Growth2
Other LPs.
Other pension funds in the Power Law LP ranking, closest to UTIMCO by combined power-law score — North America first, then the nearest worldwide.