University of Michigan, Ann Arbor, committed up to $245 million from its $16.5 billion long-term endowment at its board of regents meeting Oct. 21, according to board documents.
In public equity, the university committed up to $170 million to the Children's Investment Fund, a hedge fund managed by The Children's Investment Fund Management.
In alternatives, UM committed up to $75 million to Peppertree Capital Fund IX, an infrastructure fund managed by Peppertree Capital Management that specializes in cellular tower acquisition and construction, according to board documents.
Also at the meeting, Geoffrey Chatas, UM's executive vice president and chief financial officer, disclosed that the university's long-term endowment returned a net 40.6% in the fiscal year ended June 30. Further endowment performance information was not immediately available.
The university's annual investment report will be published later this fall, a spokesman said in an email.
