Investors - JUNE 23, 2021

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The Regents of the University of Michigan invests in Rubicon First Ascent

by Kali Persall

The Regents of the University of Michigan has approved a commitment of up to $25 million to Rubicon First Ascent, a value-add real estate fund managed by Rubicon Point Partners.

The San Francisco–based manager invests in creative office and mixed-use real estate in the San Francisco Bay Area and Pacific Northwest.

Rubicon First Ascent opened to investors in December 2019 and had raised more than $68 million a year later, in December 2020. The current size of the fund, as well as the fundraising target, could not be confirmed at the time of publication.

University Regents said the investment in Rubicon First Ascent was made on behalf of its long-term portfolio.

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