# The University of Texas/Texas A&M Investment Management Company

The University of Texas/Texas A&M Investment Management Company is an Endowment / Foundation based in Austin, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Austin, United States
- **Region:** North America
- **Address:** 210 West 7th Street, Suite 1700, Austin, TX 78701, United States
- **Founded:** 1996
- **Assets under management:** $70B–$80B (Altss estimate)
- **Website:** www.utimco.org

## Regulatory record

- **Reports private funds:** No

## About

University of Texas Management Company (UTIMCO) is a corporation established in 1996. It manages investments in the Permanent University Fund, the Permanent Health Fund, and other assets. The Board of Regents of the University of Texas System holds fiduciary care of UTIMCO.

## Sectors

- ClimateTech
- Energy Transition & Renewables
- Healthcare Services
- WaterTech
- AI/ML
- Biotech
- Consumer Tech
- Cybersecurity
- Military
- Web3 & Blockchain

## People

- Rich Hall — President, CEO and Chief Investment Officer
- Jeff Hildebrand — Chairman of the UTIMCO Board of Directors

## Questions

### Who runs investment decisions at UTIMCO?

Rich Hall holds the role of President, CEO and Chief Investment Officer, leading overall investment strategy and operations. He has previously served as Vice Chairman of the Institutional Limited Partners Association. Jeff Hildebrand chairs the UTIMCO Board of Directors, which provides fiduciary oversight on behalf of the UT and Texas A&M systems.

### How does UTIMCO source proprietary deal flow?

UTIMCO's proprietary edge draws heavily on its direct control of University Lands in the Permian Basin — a 2.1-million-acre endowment of surface and mineral rights generating oil and gas royalties, renewable energy leases, and crypto mining opportunities. On the venture and private equity side, the firm combines its $70B+ scale to secure direct co-investment allocations from the world's largest managers, alongside a curated network of fund and direct relationships built through Rich Hall's platform roles at ILPA.

### Does UTIMCO invest directly or only through funds?

UTIMCO operates a hybrid model. It commits capital to external private equity, venture capital, and hedge funds, but also engages in direct investments, co-investments alongside managers, and wholly-owned operating subsidiaries across real estate and natural resources. Specific vehicles include UTIMCO SP I and SP II LLCs, and operating real estate arms like Acacia Property Corporation.

### What role do University Lands play in UTIMCO's portfolio?

The Permanent University Fund holds over 2 million acres of surface and mineral rights in West Texas, a major source of recurring revenue through royalties on oil and gas extraction. These lands are unique among US endowments and provide UTIMCO with a structural, non-appropriated capital base separate from donations. Increasingly, the surface is being leased for utility-scale solar and wind development alongside crypto mining operations.

### How is UTIMCO governed across two separate university systems?

A nine-member board governs UTIMCO. It includes at least three members from the UT System Board of Regents, four members appointed by the UT System Board of Regents (three of whom must have professional investment expertise), and two members appointed by the Texas A&M System Board of Regents (one with investment expertise). This structure forces consensus-building between the two systems' fiduciaries before capital is deployed.

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- [Ministère des Finances](https://altss.com/profile/ministere-des-finances)
- [SURA México](https://altss.com/profile/sura-mexico)

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Source record modified: 2026-06-03T20:00:00.000Z

Last verified: not supplied by this public snapshot.

## Sources and provenance

- Organization website as recorded: https://www.utimco.org/
Source links do not imply that every field was verified on the page modification date. See [Altss methodology](https://altss.com/methodology).

Canonical page: https://altss.com/profile/the-university-of-texastexas-aandm-investment-management-company

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology