U Mich Endowment Adds $58M to Real Estate, VC

The University of Michigan endowment has added three new alternative investment funds totaling about $58 million. The largest allocation ($35 million) went to MaC Venture Capital, an early-stage venture capital firm. MaC makes pre-seed, seed, and early-stage Series A investments in technology firms and founders.

The endowment already has $5.5 billion in venture capital, which increased by 9.42% in the first quarter of 2024, according to investment performance data.

In real estate, the $20 billion Ann Arbor-based university has committed up to $20 million to a Hackman Capital Partners sponsored investment. Hackman, which is affiliated with dominant studio operator MBS group, is involved in every phase of the value creation process, from ground-up construction or redevelopment of existing properties to leasing and marketing to asset and property administration. The $4.9 billion real assets portfolio increased by around 1.9% in the first quarter.

Finally, €2.5 million ($2.7 million) was committed to a sponsored investment by BLG Capital, an Istanbul, Turkey-based real estate firm. The firm invests throughout Turkey, focusing on sectors such as hospitality, residential, student housing, and mixed-use properties, where investments can benefit from the Bilgili Group’s considerable zoning, planning, and construction expertise.