University of Michigan, Ann Arbor, disclosed $187 million in alternative investments from its $12.7 billion long-term endowment pool ahead of its Board of Regents meeting Thursday.
There were commitments to seven alternative investment strategies of existing fund managers in April.
In alternatives, the university made two $50 million commitments. One was to Graham Partners V, a private equity fund that invests in middle-market industrial technology and advanced manufacturing companies, based principally in the United States and Canada. The other was to Advent Global Private Equity IX-C, which invests in midsize and large private companies in Europe and North America, and selectively elsewhere globally, and is managed by Advent International.
In addition, the university committed a total of $25 million to Andreessen Horowitz Fund VI and Andreessen Horowitz LSV Fund I, each managed by Andreessen Horowitz, which invest in information technology companies. It also committed $15 million to Accel London VI, a Europe-focused multistage venture capital fund managed by Accel Partners.
In absolute return, the university committed $25 million to OSP Value Fund 11-B, a private credit fund managed by O'Brien-Staley Partners that will purchase small balance commercial and industrial loans, and $22 million to Champlain Capital Partners Ill, a small business investment company fund managed by Champlain Capital Partners that will purchase lower middle market U.S. companies.
