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University of Houston System's endowment management committee approved a direct hedge fund investment of $20 million in Broad Reach Master Fund for the system's $1.1 billion endowment, redeemed its investments in two other hedge funds and terminated Columbia Threadneedle Investments from a $29 million active domestic large-cap growth equity portfolio.University of Houston invests $20 million in global macro hedge fund, axes 3 managers
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