University of Vermont and State Agricultural College, Burlington, invested $5 million in a fund managed by RA Capital Management for its $565 million endowment pool.
The university's investment subcommittee approved the commitment at its March 10 meeting, recently released minutes show.
The name of the fund could not be immediately learned. RA Capital Management is a hybrid hedge/private equity fund manager that invests in public and private health-care and life science companies.
Jeff Wakefield, university spokesman, would not provide further information.
