FUNDRAISING NEWS | March 14, 2023
The State of Michigan Investment Board has disclosed $500 million in new investments made in the fourth quarter of 2022.
$150 million was allocated to private equity fund, GTCR Fund XIV.
In Real Estate, $300 million was committed to Lone Star Fund XII. Additionally, $50 million was committed to Avanath Affordable Housing Renaissance Fund, managed by Avanath Capital Management.
As of December 31, 2022, the $92.6 billion pension fund allocates approximately 24.2% to private equity and 10.8% to real estate. Their target allocations for private equity and real estate are 16% and 10% respectively.
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John Washington is the Data Research Analyst at Dakota.
