Michigan fans cheer before the start of the NCAA football game between the University of Alabama and the University of Michigan at the Cowboys Stadium in Arlington, Texas, on Sept. 1, 2012. Photo courtesy of REUTERS/Mike Stone - RTR37DVL
Proposed program capped at 1.5 pct of assets
Staff would be able to commit to funds without board approval
$10.5 bln endowment backs Kayne Anderson co-investment
University of Michigan’s $10.5 billion endowment is launching a program to invest in private funds that benefit from government-guaranteed debt financing, an investment memo released by the endowment said. The funds, known as small business investment companies, are often categorized ...