- Old Ironsides Energy reportedly targeting $1 bln
- Apollo structured credit invests in CLOs, CDOs
- Endowment discloses real asset commitments
Old Ironsides Energy is reportedly targeting $1 billion for investments in exploration and production companies in the oil and gas sectors. The Boston-based firm spun out of Liberty Energy, the oil and gas investment arm of insurance company Liberty Mutual, in 2013. Liberty Mutual is an anchor investor in the fund.
Old Ironsides will invest $25 million to $150 million per deal in North American oil and gas companies, according to University of Michigan documents.
Apollo Global Management’s Structured Credit Recovery Fund III will invest in collateralized loan obligations, collateralized debt obligations, residential mortgage-backed securities, commercial mortgage-backed securities and other asset backed securities, according to the Board of Regents documents.
The fund is managed by a team of former Stone Tower Capital executives, according to University of Michigan. Stone Tower was acquired by Apollo in 2012.
Fund III reportedly has received the backing of the Alaska Permanent Fund Corp. The fund’s target has not been disclosed.
In addition to its commitments to Old Ironsides and Apollo, the Board of Regents also disclosed commitments of $14.5 million to natural gas royalty fund MAP 2003, $30 million to a real estate vehicle called Shorenstein Realty Investors Eleven Lp and $20 million to Orion Mine Finance Fund I-A.
The Board of Regents’ long term portfolio was valued at $9.5 billion as of May 31. The portfolio had a 12.6 percent allocation to private equity as of that date, according to Michigan documents.