University of Michigan places more than $400m across alt offerings in Q4

The $12.7 billion endowment fund for the University of Michigan continues to steadily add to its alternative asset pool, with a good number of new private equity and absolute return investments in this quarter.

The latest investment is a niche property allocation. At the trustees' December 5 meeting, officials will consider a $50 million allocation to Vendera Resources IV-B, a Dallas, Texas-based manager that invests primarily in mature, producing oil and gas properties in the US.

Founded in 2011, Vendera manages roughly $400 million in assets and is raising its second institutional . . .

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