University of Michigan, Ann Arbor, committed and disclosed up to $35 million to two alternative funds from its $15.6 billion long-term endowment pool, according to documents from its board of regents meeting Thursday.
University regents approved an investment recommendation made by Brian Smith, interim executive vice president and the chief financial officer, to commit up to $25 million to Rubicon First Ascent, a real estate fund managed by Rubicon Point Partners, board documents showed.
Also, the university disclosed a $10 million commitment made in April to Screendoor Partners, a newly formed venture capital fund of funds based that invests primarily in seed-stage and early-stage funds that emphasize investments in companies founded by women and underrepresented minorities, according to board documents.
