UTIMCO Chief Quits Over Bonus Questions
Yesterday, we shared private equity fund returns from the University of Texas Investment Management Co. (UTIMCO). Today, the man ultimately responsible for overseeing those investments is out of a job. Robert Rowling, chairman of the UTIMCO board, resigned this morning, in the midst of a Texas state senate hearing about the system's falling capitalization. The decision did not seem planned out, but instead was a reaction to intense grilling over UTIMCO's decision to pay performance bonuses to members of its investment staff.
5 February 2009•2 mins read
