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UT System Board of Regents appoints three regents to serve on UTIMCO Board
AUSTIN—The University of Texas System Board of Regents today appointed Regent David J. Beck to the Board of Directors of The University of Texas Investment Management Co. (UTIMCO) and reappointed Vice Chairman R. Steven Hicks and Vice Chairman Jeffrey Hildebrand to serve on UTIMCO’s board.
Beck, a founding partner of Beck Redden LLP, received his law degree from UT Austin Law School in 1965. The law school named The David J. Beck Center for Legal Research, Writing and Appellate Advocacy after him. Beck is an Outstanding Alumnus of the law school and a Distinguished Alumnus of UT Austin.
Hicks owns and serves as the executive chairman of Capstar Partners, LLC, a private investment firm. Capstar Partners is the controlling shareholder in DMX, Inc., a company engaged in the provision of business media services, including video, music and scent technologies; Andrew Harper, a high-end travel publishing and services firm; and Harden Healthcare, a company engaged in the skilled nursing, home health and related fields.
Hildebrand is the founder, chairman and chief executive officer of Hilcorp Energy Co., an independent oil and gas exploration and production company headquartered in Houston with operations throughout the nation. Hilcorp has been recognized multiple times by both regional and national publications as one of the top workplaces in America.
Beck, appointed to a 2-year term, will replace former Regent Robert Stillwell. Hicks and Hildebrand will each serve another 2-year term.
UTIMCO is governed by a nine-member Board of Directors consisting of at least three members of the UT System Board of Regents and four other members appointed by the UT System Board -- one of whom may be the UT System Chancellor -- and two members appointed by the Texas A&M System Board. At least three members appointed by the UT System Board and at least one member appointed by the Texas A&M System Board must have substantial background and expertise in investments.
UTIMCO is a 501(c)(3) investment management corporation whose sole purpose is the management of investment assets under the fiduciary care of the Board of Regents of The University of Texas System. Created in March 1996, UTIMCO is the first external investment corporation formed by a public university system in the nation.
About The University of Texas System
Educating students, providing care for patients, conducting groundbreaking research and serving the needs of Texans and the nation for more than 130 years, The University of Texas System is one of the largest public university systems in the United States, with nine academic universities, six health institutions and an enrollment of more than 214,000. The UT System confers more than one-third of the state’s undergraduate degrees, educates two-thirds of the state’s health care professionals annually and accounts for almost 70 percent of all research funds awarded to public universities in Texas. The UT System has an annual operating budget of $15.6 billion (FY 2015) including $3 billion in sponsored programs funded by federal, state, local and private sources. With about 90,000 employees, the UT System is one of the largest employers in the state.