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UT System Board of Regents appoints Nixon, reappoints Bass to serve on UTIMCO Board
AUSTIN — The University of Texas System Board of Regents Thursday appointed J. Ray Nixon Jr. to the Board of Directors of The University of Texas Investment Management Co. (UTIMCO) and reappointed businessman J. Kyle Bass to serve on the UTIMCO Board.
The UT System Board also appointed R. Steven Hicks, vice chairman of the Board of Regents, to serve on UTIMCO’s Audit and Ethics Committee. Hicks is currently a UTIMCO board member who chairs the Policy Committee.
Nixon will succeed Ardon Moore, UTIMCO’s vice chairman, whose term has expired.
Nixon is the executive director and equity portfolio manager at Barrow, Hanley, Mewhinney & Strauss, LLC (BHMS), a Dallas investment management firm. He joined BHMS in 1994 from Smith Barney, Inc., where he was a member of the firm's investment policy committee and served as lead institutional stockbroker for the southwest. He previously served as a research analyst at the Teacher Retirement System of Texas.
Bass, who is finishing serving his second 3-year term on the UTIMCO Board, has been reappointed to a final 3-year term. He is the founder and principal of Hayman Capital Management, L.P., a Dallas-based hedge fund.
Last month, the Texas A&M University System Board of Regents appointed Ray Rothrock, partner emeritus at capital venture firm Venrock, to the UTIMCO Board. He succeeded John D. White, whose term was scheduled to expire next year. But White announced his resignation from the UTIMCO Board effective when his replacement is named.
Rothrock’s areas of investment expertise and interests span the globe, and include energy, information technology infrastructure and cyber security. Among numerous other accomplishments, he previously served as Trustee of the Texas A&M Foundation and chaired the investment committee of its $1 billion endowment.
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.
The UTIMCO Board consists of nine (9) members. Seven (7) Directors are appointed by the Board of Regents of The University of Texas System, consisting of (i) three (3) members of the Board of Regents (“Regental Directors”), (ii) three (3) persons with substantial background and expertise in investments, and (iii) one other qualified individual, which may include the Chancellor of The University of Texas System. Two (2) Directors are appointed by the Board of Regents of The Texas A&M University System, at least one of whom must have a substantial background and expertise in investments.
About The University of Texas System
Educating students, providing care for patients, conducting groundbreaking basic, applied and clinical 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 14 institutions and an enrollment of more than 217,000, the UT System confers more than one-third of the state’s undergraduate degrees, educates almost two-thirds of the state’s health care professionals annually and accounts for almost 70 percent of all research funds awarded to public institutions in Texas. The UT System has an annual operating budget of $16.9 billion (FY 2016) including $3 billion in sponsored programs funded by federal, state, local and private sources. With about 20,000 faculty – including Nobel laureates – and more than 70,000 health care professionals, researchers, student advisors and support staff, the UT System is one of the largest employers in the state.