University of Michigan commits $52m to real estate
The Regents of the University of Michigan have committed $52 million to two real estate funds, according to recent meeting documents.
The $9.8 billion endowment fund committed €25 million ($27 million) to Niam Nordic VI. The opportunistic fund focuses on commercial and residential real estate properties in the Nordic region and is targeting €500 million ($567.5 million) in equity commitments. The California State Teachers’ Retirement System and the San Francisco Employees’ Retirement System have made commitments to the fund recently.
The endowment also committed $25 million to KHP Fund IV. The fund, managed by KHP Capital Partners, will acquire, renovate and operate bouti