The Regents of the University of Michigan has approved a commitment of up to $50 million to FCP Realty Fund V, according to a meeting document from May 20.
Fund V, managed by Maryland-based FCP, has a target of $950 million and will invest in multifamily, office and mixed-use assets in the United States.
According to the meeting document, FCP invests in undervalued and/or underperforming multifamily assets located primarily in select Southeast and Sunbelt markets in the United States. In addition, the manager invests in office assets on an opportunistic basis.
The commitment will be made on behalf of Michigan’s Long Term Portfolio. Michigan said the commitment offers this portfolio the opportunity to invest alongside an experienced team in an attractive strategy.
