Michigan Department of Treasury, Bureau of Investments, disclosed $1.7 billion in first-quarter commitments on behalf of the $87.7 billion Michigan Retirement Systems, East Lansing, according to documents from its meeting Thursday.
In private equity, the bureau committed $200 million to…
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Whitmer Administration Announces Launching of Michigan Small Emerging Manager Program
February 25, 2021
Gov. Gretchen Whitmer and State Treasurer Rachael Eubanks today announced the launching of a new program that provides smaller investment fund managers an opportunity to grow by managing state pension fund dollars.
The Michigan Small Emerging Manager Program will expand access to capital for emerging small private-market investment managers, focusing on generating returns and increasing the diversity of investments with a broader range of managers.
The program’s preference will be to invest with Michigan-based investment managers, assuming they can achieve market rates of return.
“I am proud to announce the Michigan Small Emerging Manager Program,” Gov. Gretchen Whitmer said. “This program will provide opportunities to small businesses and fund managers who are underrepresented in the investment sector and also benefit Michigan’s public school and state employee