You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

UTIMCO board votes to add Aggie flavor to investment firm’s name


The board of directors for the University of Texas Investment Management Co. voted unanimously Thursday to add an Aggie flavor to the company’s name.

The UT System Board of Regents is expected to sign off in May on the new name: the University of Texas/Texas A&M Investment Management Co. The company will continue to be known as UTIMCO for short.

UTIMCO directors took the action during a meeting at the company’s offices on the 28th floor of the Frost Bank Tower in downtown Austin. UT System Chancellor Bill McRaven was not present, having announced Wednesday that he was stepping down from UTIMCO’s board so that UT regents can name a representative of the A&M System; that will give A&M three UTIMCO seats to the UT System’s six, exactly proportional to the systems’ shares of the $18 billion Permanent University Fund endowment.

This story explains some of the political calculation behind the changes in the company’s name and the makeup of its board.



Reader Comments ...


Next Up in Texas News & Politics

Parents, special needs children left floundering after Medicaid cuts
Parents, special needs children left floundering after Medicaid cuts

Stacey English has modest desires for her 7-year-old daughter Addison: Be able to eat without gagging and move both her arms. But since Addison’s occupational therapist went out of business this winter, the child with a rare genetic disorder has regressed in her fight to do even that much. “I don’t know where to go from here,&rdquo...
Looking for a two-bedroom apartment here? You need to make $23 an hour
Looking for a two-bedroom apartment here? You need to make $23 an hour

Renters must earn at least $22.98 an hour — more than three times the minimum wage — to afford a typical two-bedroom apartment in the Austin area, a recent report reveals. The report, released this month by the National Low Income Housing Coalition, studied the wages needed to afford rental housing throughout the country and uncovered broad...
Hutto files 2 lawsuits after refusing to release city manager records
Hutto files 2 lawsuits after refusing to release city manager records

The city of Hutto is suing the Texas attorney general over the state’s ruling that the town has to release some documents concerning its city manager, Odis Jones. The records were requested by or related to one of three fired female city employees who made discrimination allegations against Jones in March, said the city’s attorney, Michael...
Same tolls, new operators for southern stretch of Texas 130 tollway
Same tolls, new operators for southern stretch of Texas 130 tollway

After more than a year in bankruptcy, the company operating the southern end of the Texas 130 tollway emerged Wednesday under new ownership and new management, shedding about $1.4 billion in debt in what its leadership said makes the nation’s fastest highway more stable. Toll rates won’t be affected. The 41-mile stretch of Texas 130 from...
STONEWALL RALLY: Over 200 celebrate, stand up for LGBT rights in front of Capitol
STONEWALL RALLY: Over 200 celebrate, stand up for LGBT rights in front of Capitol

10 p.m. update: More than 200 people gathered on the steps of the state Capitol to speak up for LGBT rights during the annual Stonewall Celebration and Rally on Wednesday evening.  The event had a series of guest speakers including Miss Austin Pride Nadine Hughes and event organizer Paul Huddleston, who called on the LGBT community and its...
More Stories