University of Michigan commits $50m to industrial fund
The $10 billion Regents of the University of Michigan committed $50 million to Cabot Industrial Value Fund V, according to board-meeting documents.
Cabot Industrial Value Fund V, managed by Cabot Properties, is a value-added real estate fund that invests in industrial properties, mainly in Europe and North America.
The fund previously received commitments of $100 million each from the $109.7 billion New York State Teachers’ Retirement System and the $52.3 billion Pennsylvania Public School Employees’ Retirement System.
University of Michigan has been investing in the fund series since 2008, including a $25 million commitment to the fund’s predecessor, Cabot Industrial Value Fund IV, in 2013