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The University of Texas/Texas A&M Investment Management Company (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 $19 billion.
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.