University of Michigan’s endowment fund will appoint a New York-based fund of hedge funds (FoHF), HFMWeek reports. The system is planning to allocate around $25 million to Protégé Tactical Fund.

The Protégé Tactical Fund specializes in offering seed capital to start-up hedge funds. The endowment has also made an additional $20 million allocation to Blackstone/GSO Capital Solutions Fund.

Click here for the story from HFMWeek.