University of Michigan to Invest in Gold, Copper Mining Fund
- Endowment plans $30 million for Waterton Mining Parallel Fund
- School reports investments of $93 million in alternatives
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The University of Michigan plans to invest $30 million in a fund that will buy North American gold and copper mines from distressed companies.
The school, with a $10 billion endowment as of June 30, plans to make the investment with Waterton Mining Parallel Fund, which is managed by Waterton Global Resources Management in Toronto, according to an agenda for the Board of Regents meeting on May 19.