The University of Michigan endowment fund has made a $25 million absolute return investment in credit asset manager, Golub Capital, HFMWeek reports. The endowment fund has made the allocation to the Golub Capital Premium Earnings Adjustable Rate Loans (Pearls) Direct Lending Program. The fund made the allocation from its investment pool for working capital. Illinois-based Golub Capital recently appointed ex-DE Shaw hedge fund manager, Daniel Posner, to run the firm’s investments in long/short credit opportunities.
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