The Municipal Employees’ Retirement System of Michigan will allocate up to $750 million to Carlyle and AlpInvest, The Wall Street Journal reports. The system will invest $500 million in the next five years in AlpInvest, which will provide exposure to fund commitments as well as to secondary deals and co-investments.
The $6.8 billion system will also commit up to $250 million in a five-year period to a nondiscretionary managed account with Washington, DC-based Carlyle. The amount may be utilized for direct investments in Carlyle funds and also for co-investments and other opportunities.
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