University of Michigan plots SBIC investment program

University of Michigan, private equity, pension fund
  • 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 ...

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