The University of Michigan is in talks to invest $5 million of its endowment in litigation funding.
The university plans to invest with Lake Whillans, a litigation funding company, with the goal of receiving a portion of proceeds from successful cases. According to Lake Whillan’s website, the company invests in meritorious commercial claims with realistic damages in excess of $20 million. The investment is part of the University of Michigan’s aim to diversify its portfolio by investing in areas where returns are independent of financial markets.
Last year, the university invested in real estate, credit, and energy funds. The university’s endowment was valued at $10.5 billion at the end of 2016.
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Summarized by Marc Lesnick