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University of Michigan Endowment Banks on Funds That Make Loans

  • Lending strategies accounted for 30 percent of new managers
  • Public school’s endowment is valued at $10.5 billion

The University of Michigan is betting its endowment can make money on loans to small businesses from Barcelona to Beijing.

The endowment, valued at $10.5 billion as of Dec. 31, has added more managers who specialize in lending -- through private credit, distressed and other forms of debt -- according to annual reports and other public documents.