Institutional Investor, a leading international business-to-business publisher, last week (May 12) recognized the Texas Tech University System (TTU System) with the Endowment of the Year award at the 20th Annual Hedge Fund Industry Awards presented at the Mandarin Oriental in New York City.
The TTU System endowment is currently valued at approximately $1.7 billion and was ranked in the top 15 percent of the 700-plus higher education institutions reported in the 2022 National Association of College and University Business Officers Endowment Study (NACUBO).
“It is exciting to see the Texas Tech University System receive an industry award of this magnitude,” Dr. Tedd L. Mitchell, chancellor of the TTU System, said in a news release. “There are a lot of people who deserve kudos for this recognition, and I want to congratulate our team of financial professionals within our investments operation, TTU System Administration and the finance leaders across our system component institutions.”
The TTU System Office of Investments, led by Tim Barrett, CFA, associate vice chancellor and chief investment officer, is responsible for managing the Long-Term Investment Fund (LTIF) for the TTU System, including the system’s five component institutions: Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University.
“We have a remarkable team of financial experts in our Office of Investments, and I’d like to congratulate Tim Barrett and his team for their outstanding work that led to this recognition,” said James Mauldin, vice chancellor and chief financial officer of the TTU System. “I’m very proud of the Texas Tech University System’s investments team for their diligence and continued excellence monitoring and reporting on investments to ensure our system’s resources are solidified to support our institutions’ mission of educating tomorrow’s leaders.”
The TTU System LTIF had a 6.93 percent five-year return along with a 7.32 percent 10-year return in 2022. Since the establishment of the LTIF in 1996, a total of $803 million has been distributed to the TTU System institutions.
