State of Michigan Department of Treasury, Bureau of Investments, Lansing, committed $275 million in new private equity commitments, said state Treasurer Mark A. Murray. The $50 billion fund committed $175 million to the Heartland Industrial Partners fund, to focus on restructuring core industrial businesses, and $100 million to Prudential Global Private Equity to invest in small and medium-sized funds with less than $500 million for a proprietary fund of funds.
Funding will come from cash reserves.
