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By David G. Barry

The University of Michigan has committed to new funds from three of its existing managers.

In a July note to the Board of Regents, Chief Financial Officer Geoffrey S. Chatas said the school in May committed up to $23 million to venture capital firm First Round Capital, $38 million to European private equity firm Investindustrial, and up to $13 million to real estate firm Spear Street Capital.

The Board of Regents also was poised to approve up to $40 million to Merit Hill Self-Storage LP, a New York fund manager that acquires value-add self-storage facilities throughout the United States.

The University of Michigan’s endowment stood at $18.6 billion as of May 31. That’s up from $18.2 billion as of Dec. 31, 2021. The school had $6.9 billon, or 37.3% of its portfolio, in marketable securities. The remaining $11.6 billion, or 62.7%, were in alternative assets. Venture capital is the biggest part of the portfolio at 30.2%. Private equity is at 14%, while real estate and natural resources each account for just over 9%.

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NEWS

INSTITUTIONAL

July 21st, 2022

University of Michigan Commits to Three Existing Managers

By David G. Barry

The University of Michigan has committed to new funds from three of its existing managers.

In a July note to the Board of Regents, Chief Financial Officer Geoffrey S. Chatas said the school in May committed up to $23 million to venture capital firm First Round Capital, $38 million to European private equity firm Investindustrial, and up to $13 million to real estate firm Spear Street Capital.

The Board of Regents also was poised to approve up to $40 million to Merit Hill Self-Storage LP, a New York fund manager that acquires value-add self-storage facilities throughout the United States.

The University of Michigan’s endowment stood at $18.6 billion as of May 31. That’s up from $18.2 billion as of Dec. 31, 2021. The school had $6.9 billon, or 37.3% of its portfolio, in marketable securities. The remaining $11.6 billion, or 62.7%, were in alternative assets. Venture capital is the biggest part of the portfolio at 30.2%. Private equity is at 14%, while real estate and natural resources each account for just over 9%.