Michigan pledges $345m to VC

Sep 22, 2015 •

Michigan University commits $345m to seven investment managers from its $10bn long term endowment pool.

Michigan University has provided $345m to seven investment managers from a $10bn long term endowment pool the university has earmarked for investment.

Three new managers will share $235m with the remaining $110m returning to existing partner funds. Hedge fund Alyeska Investment Group will receive $100m, as will fellow new manager WindAcre Partnership, with the remaining $35m headed for Madison Dearborn Capital Partners seventh fund.

Michigan’s endowment reported a 10% return over ten years in its latest financial report.

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