Private Equity
Mission statement
The MITIMCo Private Equity team is responsible for identifying, investing and monitoring the Institute's and the Retirement Plan's financial interests in private equity investments. The primary focus areas of the private equity investment program include: venture capital, corporate finance and international private equity. The majority of MITIMCo's private equity interests are in North America. Additional investments are in Asia, Australia, Europe, the Middle East and South America. Members of the private equity staff represent MIT's interests by serving on the advisory boards of many these private equity partnerships. It is the goal of this team to provide superior performance through the diligent and active management of MIT's private equity assets.
MIT Private Equity Fund, L.P.
MIT Private Equity Fund, L.P. (the "Fund" or the "MIT Private Equity Fund") is an investment vehicle organized by MIT and members of MITIMCo's private equity staff to invest MIT and non-MIT capital in a diversified global portfolio of private equity funds. The Fund was capitalized in June 2000 with $167 million, $50 million of which came from MIT. The outside investors are comprised primarily of endowments and foundations.
The Fund invests alongside MIT in all new private equity relationships (defined as relationships established since July 1, 1999) it develops during the investment term of the Fund. New partnerships raised by MITIMCo portfolio managers where relationships existed prior to June 30, 1999, continue to be invested in solely by MIT. The strategy of the Fund is the same as MITIMCo's private equity strategy, which is to invest opportunistically in the best private equity firms and to build a diversified portfolio of private equity funds consisting primarily of venture capital funds, leveraged buyout funds, mid-stage growth capital funds, and international private equity funds. MIT invests alongside the Fund in accordance with a pre-set allocation formula.