Is This A School Or A Bank?

"It looks like MIT is moonlighting as an private fund fund-of-funds manager. The university’s investment office revealed in a recent regulatory filing that it has secured around $190 million in commitments for something called MIT Private Equity Fund IV, which apparently is the continuation of a program that quietly launched eight years ago.

I emailed someone in MIT’s investment office about the effort, and got this reply: 'Yes, we have a small FoF operation investing others’ capital alongside MIT’s, only in the private equity space. Investors are smaller endowments and foundations – basically 501c3s.'"

Placement Docs for MIT Private Equity Fund IV

Via Dan Primack of PEHub