Michigan Investment Board Commits $887M to Alts

The State of Michigan Investment Board reported new commitments totaling approximately $887M across private credit, private equity, and real estate strategies.

According to minutes from its October 1 board meeting, the pension allocated $300M and $150M, respectively, to private credit strategies Apollo Accord+ II Fund and AMG Comvest Senior Lending Feeder Fund II.

In private equity, the state pension committed $150M to Veritas Capital Fund IX; $100M each to HarbourVest Co-Investment Fund VII Combined and middle-market buyout Thoma Bravo Discover Fund V; $50M to Thoma Bravo Fund XVI; and $10M to venture capital fund Accel London VIII. In real estate, the pension committed $26.7M to BentallGreenOak Europe IV.

The Michigan Board said these commitments were made between April 1 and June 30. As of June 30, its asset allocations for private equity was 21.6% of the portfolio; absolute return, real return and opportunistic was a combined 20.2%, and real estate and infrastructure was 9%.

Written By: Dakota

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Michigan Investment Board Commits $887M to Alts

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