University of Michigan, Ann Arbor, invested or committed a total of $126 million to four funds managed by new money managers for the school's $9.6 billion long-term endowment pool and investment pool for working capital.
The board of regents approved the new investments at a meeting Thursday.
In private equity, OpCapita Consumer Opportunities Fund II received a $36 million commitment for investment in private middle-market companies in France, Germany, Spain and the U.K. FSN Capital V was awarded a $35 million commitment for buyouts of midsized companies in the Nordic region.
AMERRA Agri Fund III was allocated a $30 million commitment from UM's working capital pool. The AMERRA Capital Management fund will provide secured debt loans to North American agricultural commodity producers and processors. The size of UM's working capital pool could not be learned by press time.
Also, $25 million was invested in Tybourne Equity Fund, a long/short equity fund that will invest globally in companies with an “Asian thematic approach,” said Kevin P. Hegarty, executive vice president and chief financial officer, in an investment recommendation report for the regents. The fund's manager is Tybourne Capital Management.
