Alternatives
The retirement system established a new 5% target to the asset class last year.
The university will consider approving up to five financing agreements with startup companies recently launched from the institution’s ecosystem through its accelerator fund.
The commitments fulfill the plan’s private markets pacing schedule this year.
The plan is seeking a fund-of-one structure to manage an initial 3% of its long-term 7% target to the asset class.
The three private markets commitments totaled $65 million.
The plan committed up to $150 million across three funds in May and June.
The firms intend to broaden access to diversified public and private market portfolios with a focus on retirement and wealth channels.
Funding for the new investment comes from the partial redemption of another hedge fund manager.
The $50 million investment concludes a search for an additional long/short strategy initiated late last year.
Jamie Hunter has served as cfo and v.p. for operations, finance at the Ann Arbor Area Community Foundation since January 2017, overseeing the management of approximately $220 million in assets and 600 charitable endowed funds. He took the the time to answer five questions, plus a few extra, from FIN News.