The $12.5 billion University of Michigan endowment portfolio added two more niche alternative investments to its long-term portfolio earlier this spring.
Trustees approved a total of $70 million in new commitments at their February meeting, according to recently released meeting minutes.
Kedaara Capital Advisors’ private equity fund based in Mumbai, India, won a $50 million commitment from the endowment. Kedaara Capital III is focused on the mid-market private equity market in India and plans to invest in control or significant minority stakes in mature middle-market businesses and select smaller, high-growth . . .
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