# Virtual Investment Committee Meeting


**Body:** UA System
**Date:** November 11, 2026
**Jurisdiction:** SLED

The UA System Virtual Investment Committee met on November 12, 2026. Fund Evaluation Group reviewed portfolio performance and allocation, including the $7.7 billion in assets reported at September 30 and the endowment’s long-term investment objectives. The committee considered two private-equity commitments for the Pooled Endowment Fund: up to $20 million to existing manager Carousel Capital Partners VII and up to $20 million to new manager Blue Sea Capital Fund IV, with an additional co-investment reserve of up to $5 million for Blue Sea. A motion to consider the recommendations collectively was seconded, and the resolutions were approved; Trustee Phelps recused himself from the Blue Sea vote. The presenter noted that the commitments support the system’s private-equity allocation and that annual commitments are paced around $160 million, subject to conditions and portfolio needs.

Members also discussed interest-rate exposure and whether the system could more intentionally support commercialization and venture opportunities emerging from UA System research. Fund Evaluation Group described connecting university commercialization efforts and Southern Research with its venture-capital contacts; no new allocation or other action was approved on that topic. A committee member requested the investment presentation materials, and the presenter agreed to refresh a cash-based analysis of realized private-equity returns for a future meeting.

**Source:** UA System