Michigan Small Emerging Manager Program

The Michigan Small Emerging Manager Program is a $300 million program that invests across small and emerging manager fund, co-investment, and secondary opportunities. The target strategies for the program include private equity buyouts, growth equity, venture capital, special situations, real estate, infrastructure, credit, and real return opportunities.

The State of Michigan Retirement System (“SMRS”) has designed the mandate to expand access to capital for emerging/small private market investment managers with a focus on generating returns and increasing the diversity of investments and the inclusion of a broader range of managers.

The Fund is sponsored by the State of Michigan Retirement System and is co-managed by Barings and GCM Grosvenor

All investments will adhere to Michigan Statutes and the Michigan Constitution.

The State of Michigan Retirement System

The Michigan Department of Treasury, Bureau of Investments, provides investment management services and serves as a fiduciary to the State of Michigan Retirement System (“SMRS”) trust funds. SMRS collectively contains the retirement assets for all state-level pension funds, on behalf of retired and active public school employees, state employees, state police, and judges. SMRS’ goals include investing these assets to meet or exceed the actuarial rate of return over the long term and diversifying assets to reduce risk. All pension trust fund assets must be invested in accordance with the Investment Act (Public Act 314), other applicable state statutes, and the Michigan Constitution. 

Barings

Barings LLC (“Barings”) is a global asset management firm with over $350 billion of assets under management across all major asset classes, as well as a global presence with over 736 investment professionals and 35 offices in 19 countries. The Barings Private Markets (“Barings PM”) platform seeks to find differentiated sources of return across private equity, real assets, asset-based investments and the four quadrants of real estate. Further, the Barings Funds & Co-Investments (Barings “FCI”) team serves as a professional limited partner investing across all major investment strategies and geographies within private markets-including buyouts, growth, private credit, infrastructure, natural resources and real estate across the globe. Over its 30-year track record, the Barings FCI team has established custom, outcome-oriented solutions through differentiated portfolio construction, access to constrained markets, and adaptability to changing markets and client priorities.

Please visit the http://www.msembarings.com/ site or contact Mina Pacheco Nazemi and the Barings team at MichiganOpportunities@Barings.com

GCM Grosvenor

GCM Grosvenor is a global alternative asset manager that invests on behalf of clients who seek allocations to alternative investments such as private equity, infrastructure, real estate, credit, and absolute return strategies. With approximately $59 billion in assets under management, it is one of the world’s largest and most diversified independent alternative asset management firms. 

The firm specializes in developing customized portfolios for clients who want an active role in the development of their alternatives programs. GCM Grosvenor also offers multi-client portfolios for investors who desire a turn-key solution for accessing alternative investments. Offerings include multi-manager portfolios as well as portfolios of direct investments and co-investments. Portfolios range from highly concentrated to broadly diversified. 

GCM Grosvenor is headquartered in Chicago and has offices in New York, Los Angeles, London, Tokyo, Hong Kong, and Seoul. 

Please visit the GCM Grosvenor site at  GCM Grosvenor or contact Michael Kell and Stephen Cammock from the GCM Grosvenor team at michigansmallmgropps@gcmlp.com