Bruce Zimmerman

Texas U. Sold $375 Million in Gold Bars; Exposure Steady

The University of Texas Investment Management Co., the third-largest U.S. academic endowment, sold $375 million in gold bars from holdings of about $1.4 billion and reinvested the proceeds in gold futures and equities.

Texas College Fund Boosts Hedging Citing Concerns on Euro-Debt, Inflation

Texas’s public university endowment, the second-largest U.S. college fund, is expanding derivative use to hedge against a euro-region debt default or a collapse in the dollar, while raising limits on commodities including gold.

Texas College Fund Gives $7.2 Million in Bonuses to Managers on 20% Return

Texas’s public university endowment, the second-largest U.S. college fund, handed out $7.2 million in bonuses to 29 managers after investments beat benchmarks for three straight years, according to the fund’s top executive.

Texas Endowment Staying With Hedges Trails Equity Gains

Texas’s public university endowment increased 5.1 percent this year through February, according to the University of Texas Investment Management Co., trailing the benchmark Standard & Poor’s 500 Index of equities.

Texas Teachers Taking Alternative Investing to New Risks

After working for almost two decades as a money manager, Britt Harris at age 45 was what most people would consider a success. Bridgewater Associates LP’s Ray Dalio and Bob Prince had just tapped him to be chief executive officer of the world’s largest hedge fund.

Texas University Endowment Storing About $1 Billion in Gold Bars

The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board.

Texas University Takes Cue From Kyle Bass to Hold $1 Billion in Gold Bars

The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board.

Gold-Shortage Threat Drives Texas Schools Hoarding 664,000 Ounces at HSBC

Dallas hedge-fund manager J. Kyle Bass helped advise the University of Texas Investment Management Co. on taking delivery of 6,643 gold bars, worth $991.7 million yesterday, that are stored in a bank warehouse in New York.

Kyle Bass Urges Texas Fund to Hold Gold Hedge as Assets Shrink

Kyle Bass, the Dallas hedge-fund manager, urged overseers of Texas’s state university endowment, the second-largest U.S. college fund, to stick with a $1 billion investment in gold bullion even as the fund’s assets decline.

"Our idea was to buy and hold gold, and when the world's central banks begin tightening, we'll sell."

- Bruce Zimmerman on Apr 24, 2013

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