University of Louisville Foundation committed $13 million total to three private equity funds on behalf of the university’s $646 million endowment, said a transaction report obtained through an open records request.
The Louisville, Ky.-based foundation committed $5 million to Advent Global Private Equity VIII, an international middle-market buyout fund managed by Advent International, and $4 million each to Greycroft Partners IV, a U.S. early-stage venture capital fund that invests in digital media companies, and Cerberus Institutional Partners VI, a global distressed debt fund managed by Cerberus Capital Management.
The foundation has previously invested in other Advent, Greycroft and Cerberus funds, according to the transaction report.
Separately, the foundation plans to invest $5 million with Sylebra Capital Partners in a long/short equity hedge fund, pending some final approvals, according to the report.
Last year, the foundation overhauled its hedge fund portfolio, pulling at least $46.4 million total from 10 managers through full or partial redemptions, the report said. In the fourth quarter, a long/short equity manager, Latimier Light Capital, was hired for a $5 million allocation.
Michael D. Kramer, director of investments and financial management at the foundation, declined to comment on the changes.
