Iowa Board of Regents committed $15 million to Commonfund Capital and $13 million to Metropolitan Real Estate Equity Management on behalf of the University of Iowa and Iowa State University endowment funds, confirmed Patrice Sayre, chief business officer for the board.
The board committed $11 million for the University of Iowa endowment and $4 million for the Iowa State endowment to Commonfund's Natural Resource Partners IX, a closed-end fund of funds.
It also committed $9 million for the University of Iowa's endowment and $4 million for the Iowa State University endowment for Metropolitan Real Estate Partners Global VI, a closed-end valued-added real estate fund of funds. The fund pursues global opportunities through its underlying partnership funds – Metropolitan Real Estate Partners IX, a domestic fund, and Metropolitan Real Estate Partners International V, an international fund.
As of Dec. 31, the University of Iowa endowment fund, Iowa City, had $406.9 million in assets; Iowa State University, Ames, $130.5 million.
Wilshire Associates assisted. Both endowments have invested in predecessor funds of both managers.