Alternatives

A venture capital firm based on the West Coast has closed its oversubscribed first fund, which focuses on early-stage investments in technology-enabled companies led by Latinx and diverse founders, with a few prominent foundations participating.

A university in New England approved a venture capital fund-of-funds commitment within its endowment at its investment committee meeting last month.

The plan approved three private equity commitments to existing managers at a board meeting today.

The plan is seeking one or more fund-of-funds managers to handle a $400 million mandate.

They will be responsible for over $750 million in alternative and asset allocation mutual fund and private client separate account strategies.

Alternative investment managers Apollo Global Management, Ares Management Corporation and Oaktree Capital Management have announced a $90 million initiative for students attending three Historically Black Colleges and Universities to introduce them to the alternative investment industry.