The University of Texas Investment Management Company (UTIMCO) oversees the assets of both the University of Texas and Texas A&M Systems.
The company was created in 1996 by the University of Texas System Board of Regents. The UT System chancellor, three regents and five outside directors with investment backgrounds sit on the UTIMCO board of directors.
The directors are:
|Clint D. Carlson||Carlson Capital, L.P.|
|Francisco Cigarroa||UT System Chancellor|
|J. Philip Ferguson, Vice Chairman||AIM Capital Management, Inc. (Former Chief Investment Officer)|
|Paul Foster||UT System Board of Regents|
|Janiece Longoria||UT System Board of Regents|
|Ardon E. Moore||Lee M. Bass, Inc. (CEO)|
|Colleen McHugh||UT System Board of Regents|
|Erie Nye, Chairman||TXU Corporation (Chairman Emeritus)|
|Charles W. Tate||Capital Royalty L.P. (Chairman)|
The current CEO is Bruce Zimmerman. Zimmerman along with then-UTIMCO chairman Robert Rowling became the center of a controversy over bonuses to company staffers during the 81st legislative session. State senators grilled the two men over Zimmerman's million dollar bonus, which he received as the assets managed by the company were losing billions of dollars in value. Rowling resigned in protest over the intense questioning.
The endowment fund for the University of Texas System fell to $15.2 billion at the end of August 2009, after starting at more than $17.8 billion the previous year.