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Native Son

The sudden resignation of Bob Boldt as CEO of the University of Texas Investment Management Co. was a long time in the making. Now his legacy and the future of the $20 billion endowment he managed are both in doubt.

Bob Boldt gave himself and his staff a little extra homework this spring: Define “hedge fund.” That’s an odd-sounding assignment for the president and CEO of the University of Texas Investment Management Co. Utimco, after all, manages nearly $20 billion in endowment funds, most of it belonging to the University

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