University of Michigan commits to $1.5bn-targeting Morgan Stanley Asia fund


University of MichiganThe University of Michigan is among the latest LPs to come on board for Morgan Stanley Private Equity’s $1.5bn-targeting Asia fund, it is understood.

The institutional investor has committed $25m to the vehicle as part of a $274m spread of investments according to P&I.

In January the Pennsylvania Public School Employees’ Retirement System agreed to invest up to $100m in the vehicle, which is believed to have held a $750m first close shortly after.

A person familiar with the matter told AltAssets the firm expected to wrap up the fundraise by the end of the second quarter of 2013.

The firm also targeted $1.5bn for its last Asia buyout fund in 2007.

Fellow buyout giant Carlyle reportedly broke the $1bn mark for its latest Asia-focused private equity fund earlier this week, four months after holding a $700m first close.

Carlyle hit the fundraising trail for the $3.5bn-targeting fund in May last year, shortly after the firm debuted on the Nasdaq stock exchange.

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