U. Michigan Adds Hedge Fund Golub To Portfolio

Mar 4 2011 | 9:55am ET

The University of Michigan's endowment has invested $25 million in hedge fund Golub Capital.

The initial investment in Golub's Premium Earnings Adjustable Rate Loans (Pearls) Direct Lending Program "will further balance the university's investment pool for working capital risk exposures and enhance returns by decreasing exposure to movements in interest rates and increasing exposures to corporate credit and investment manager value added," Timothy Slottow, chief investment officer of the $6.6 billion pension, said in an internal memo.

Michigan's absolute return allocation to Golub follows its follow-on investment with GSO Capital Partners late last year, HFMWeek reports.


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