University of Alabama System, Tuscaloosa, made three new private equity commitments totaling up to $40 million for its $1.9 billion pooled endowment fund.
The system's investment committee approved commitments of up to $15 million each to Great Hill Equity Partners VIII, a middle-market buyout fund managed by Great Hill Partners, and Menlo Special Opportunities III, a venture capital fund managed by Menlo Ventures, and up to $10 million to early-stage venture capital fund Storm Ventures VII at its Oct. 25 remote meeting, a video of the meeting shows.
As of Sept. 30, the endowment's actual allocation to private equity was 15.9%.
Investment consultant Fund Evaluation Group assisted.
