Alyeska Hedge Fund to Manage Money for University of Michigan
- Endowment pool pledges about $345 million to seven managers
- Alyeska fund was started by Citadel alumnus Anand Parekh
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The University of Michigan pledged about $345 million to seven investment managers from its $10 billion longterm endowment pool, following the approval of the school’s regents Thursday.
The endowment committed $235 million to three new managers and more than $100 million to existing partner funds. The university, based in Ann Arbor, Michigan, has the third-largest endowment among public colleges in the U.S.