UTIMCO Backs 59 North Capital

UTIMCO is the country’s largest endowment system that oversees investments for both the University of Texas and Texas A&M Systems. The $68 billion endowment has been led by President, CEO and CIO Rich Hall since 2018 after his time at Harvard Management Company and the Teacher Retirement System of Texas.

In our last look at UTIMCO in September, we discussed its top performing hedge funds and private managers, including detailed return data from UTIMCO’s filings. Below we share a few takeaways from recent UTIMCO disclosures. On Friday, OWL users received more detail, including a list of additional 2025 private fund commitments and asset-class level return data.

59 North Allocation

UTIMCO committed $300 million in March to 59 North Partners, founded in 2018 by Michael Bilger following his time at Marble Arch, a now-closed hedge fund that spun out of Tiger-seeded Hound Partners.

59 North’s AUM has grown considerably in the past few years and the firm is now backed by a cadre of high-profile LPs including Michigan State and Johns Hopkins.

59 North currently discloses 13 positions. According to OWL estimates, AerCap Holdings (an Ireland-based aviation leasing company) and Constellation Energy (a US-based energy supplier) have been the fund’s most profitable disclosed positions in recent years. The fund recently added more energy exposure, which now makes up just under one third of its disclosed portfolio. 59 North’s 2025 energy purchases include DT Midstream and Kinder Morgan.

Dockside Update

Dockside Platforms is a managed account platform overseen by Walleye Capital, founded in 2023 in partnership with UTIMCO and the State of Wisconsin Investment Board.

In recent disclosures, UTIMCO describes its relationship with Dockside as having “reached critical mass across the endowment.” They note that Dockside’s portfolio has reached a gross market value of $6 billion across three strategies, and that the stable value hedge fund strategy plans to add at least six managers over the next 18 months, primarily in its Europe, Asia and TMT-focused strategies.

OWL’s data shows that managers including Eminence Capital and JAT Capital have publicly disclosed relationships with Dockside. For a more detailed list of managers that have Dockside relationships, reach out to learn more about OWL!

Other News/Events

• Millennium hires one of Citadel's longtime stockpickers

• Ex-a16z Partner Michelle Volz Launches Pax Ventures with $50 Million First Fund to Bet on 'Industrial-Scale Markets'

• Meta Veteran and Sequoia Partner Aim to Raise Over $1 Billion for New Firm

• Ontario Teachers’ Posts First Private Equity Loss Since 2009

• Bill Ackman's Pershing Square Files Dual IPO, Privately Raises $2.8 Billion

• Bain Private Equity Report 2026

• WKKF hiring Investment Analyst

• University of Missouri hiring Director, Investments

• GIC hiring Analyst/Associate, Real Estate

• Boston Children's Hospital hiring Investment Analyst

• Baylor hiring Investments Operations Manager

About Old Well Labs

OWL is an intelligence platform built for allocators, by allocators. Leading endowments, foundations, and family offices use the system to find, monitor, and connect with thousands of fund managers globally. OWL's analytics engine has collected over one billion data points from 65 countries. We make it easy for allocators to find and track information about the managers they care about – not just positions but also performance analytics, people data, business information, and details about the manager investments of other allocators.

Disclaimers

This newsletter and the material on the Old Well Labs platform are for informational purposes only and should not be considered investment advice or a recommendation of any particular security, manager, or strategy. Old Well Labs shall not be liable for any investment gain or loss that may occur from the use of this material. No part of this material may be reproduced in any form or used in any publication without express written permission from Old Well Labs.