University of Michigan commits to two alts funds

The University of Michigan endowment committed to two San Francisco-based alternative investment funds recently.

A $25 million commitment was approved to Rubicon First Ascent, managed by Rubicon Point Partners, a boutique real estate investment company.

Rubicon's inaugural commingled fund, the offering collected a total of $232 million in its final close at the end of June. Officials have the ability to acquire up to $770 million of property investment with a focus on value-add equity investments in creative office space in urban, amenity-rich locations throughout the Bay Area and Pacific Northwest . . .

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