The $12.5 billion University of Michigan endowment office remains active in the alternative investment space, recently updating the university’s board of regents on nine niche alternative investment allocations totaling $385 million.
The approximately $2.7 billion absolute return portfolio saw new commitments to Kayne Anderson last autumn with investments in the Los Angeles firm’s managed collateralized loan obligations (CLOs).
The endowment committed $50 million to Kayne CLO Partners Fund II in September. The fund invests in the equity tranches of Kayne Anderson managed CLOs as well as third party CLO debt and . . .
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