JULY 20, 2016

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Michigan University commits $95m for energy and real estate

by Andrea Waitrovich

The Regents of the University of Michigan made several commitments to real estate and energy investments this year.

In April, the university committed $50 million to Carmel Partners Investment VI. The fund invests in multifamily investments in select supply-constrained, high-barrier-to-entry U.S. markets, including Denver, Honolulu, Los Angeles, New York City, the San Francisco Bay Area, Seattle, and Washington, D.C. The fund may acquire existing multifamily properties for renovation or develop new multifamily properties when market conditions support new construction. Carmel then plans to use its vertically integrated company to implement a value-add program in the case of existing assets or complete the new development.

Also in April, the university invested $25 million in Yorktown Energy Partners XI, which uses a strategy of making private equity investments in a broad range of energy companies primarily in the exploration and production, transportation, ma

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