It looks like MIT is moonlighting as an private fund fund-of-funds manager. The university’s investment office revealed in a recent regulatory filing that it has secured around $190 million in commitments for something called MIT Private Equity Fund IV, which apparently is the continuation of a program that quietly launched eight years ago.
I emailed someone in MIT’s investment office about the effort, and got this reply: “Yes, we have a small FoF operation investing others’ capital alongside MIT’s, only in the private equity space. Investors are smaller endowments and foundations – basically 501c3s.”
No limited partners were listed on the Fund IV regulatory filing, although the vast majority of commitments come from institutions based in Massachusetts. A Fund III filing lists The Houston Museum of Fine Arts. Here’s the actual Fund IV filing: MIT_Filing.pdf