Thursday, August 12, 2010

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J. Kyle Bass Appointed to UTIMCO Board

AUSTIN – The University of Texas System Board of Regents today (Aug. 12) named J. Kyle Bass of Dallas to the Board of Directors of The University of Texas Investment Management Co. (UTIMCO).

Bass is founder, managing partner, and principal at Hayman Capital Partners, LP, a privately-owned hedge fund sponsor in Dallas. Prior to launching Hayman Capital, he formed the first institutional equity office in Texas at Legg Mason, Inc., where he was the managing director in charge of advising special situation accounts on investments. Prior to joining Legg Mason, Bass was employed at Bear Sterns & Co., Inc., where he was one of the youngest senior managing directors in the firm's history. While at Bear Stearns, he primarily advised event-driven hedge funds on investment strategies.

Bass succeeds Clint Carlson of Dallas on the UTIMCO Board for a term to expire April 1, 2012. Bass received a bachelor’s degree in business administration and real estate from Texas Christian University.  He will be one of four “outside” directors serving on the UTIMCO Board.

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. It invests endowment and operating funds in excess of $18 billion.

UTIMCO is governed by a nine-member Board of Directors. The UTIMCO Board of Directors includes three members of The University of Texas System Board of Regents, one member selected from a list provided by The Texas A&M University System Board of Regents, the Chancellor of The University of Texas System, and four outside investment professionals appointed by the UT System Board of Regents.

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