Reno Foundation approves $5m commitment to energy fund

The University of Nevada foundation has backed a midstream energy infrastructure fund.

Institution: University of Nevada, Reno Foundation
Headquarters: Reno, United States
Total AUM: $215.80m
Allocation to Alternatives: 27.09%
Bitesize: $1-5m

Reno Foundation committed $5 million to Energy Spectrum Partners VIII, according to approved meeting minutes.

Energy Spectrum Partners focuses on midstream energy infrastructure in the lower middle market. Reno Foundation cited the fund manager’s significant investment expertise and an informed due diligence process as reasons for committing, though expressed concern over its “larger focus on greenfield opportunities and management teams with unsecured projects”.

The university foundation currently allocates 27.09% of its portfolio to alternatives.

As illustrated below, Reno Foundation’s last recorded commitment to an infrastructure fund was to Commonfund Capital Natural Resources VIII.

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