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By Patrick McGee, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Jul. 27--The University of Texas System has more aggressively invested $16 billion in assets this year, putting more than 20 percent of that money in hedge funds, which are largely secretive and unregulated.
The strategy overseen by a board appointed by the UT System regents has sparked debate among regents who usually show consensus in public.
In a July 12 memo, outgoing regent Charles Miller said the University of Texas Investment Management Company's fund management might be "too speculative" and "headed in the direction of assuming additional risk." …