State of Michigan Department of Treasury, Bureau of Investments, Lansing, made $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, and $100 million to Prudential Global Private Equity. Prudential will co-invest $25 million of its own capital in the program.
It is the departments first investment with Heartland.
Funding will come from cash reserves.