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Komfie Manalo, Opalesque Asia:

The University of Michigan’s Board of Regent on Thursday committed $345 million to seven investment managers, including $100 million to Chicago-based hedge fund Alyeska Investment Group, reported Bloomberg.

The Ann Arbor, Michigan-based endowment, with $10 billion long-term endowment pool, said $235 million would be allocated to three new managers and more than $100 million to existing partners. The University of Michigan is the third largest endowment among public colleges in the U.S.

Hedge fund Alyeska, founded by Citadel alumnus Anand Parekh with $9 billion in assets under management, is one of the new managers tapped by the endowment to manage its funds, the report added.

Another fund manager that was hired by the endowment is the $500 million Houston-based long-only equity manager The WindAcre Partnership, which was given a $100 million allocation. The WindAcre is headed University of Michigan alumnus Snehal Amin, who is also a founding partner at London-based hedge fund Theleme Partners.

Other allocations by the endowment include $35 million to Chicago-based private equity Madison Dearborn Capital Partners VII; nearly $40 million in Stockholm-based private equity fund EQT VII; and $30 million to venture capital fund Foresite Capital Fund III.......................

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