The Indiana-based endowment manages total assets of USD 4.7 billion, and is advised on its investments by Cambridge Associates. Historically University of Notre Dame Endowment has invested in a variety of private equity fund types including buyout funds, venture capital funds at a variety of stages, funds of funds and turnaround vehicles. It invests globally in the asset class.
Prospect Partners III raised USD 200 million in total to close at the end of August. The fund exceeded its hard cap target of USD 185 million. Prospect Partners III targets lower mid-market buyout opportunities in the US; the vehicle received commitments from a number of return investors, and its investor base is made up of a number of global institutional investors, financial asset management firms, fund of funds, and university endowments. Other LPs in the fund include JPMorgan Asset Management - Private Equity Group, Commonfund Capital, Performance Equity Management and RCP Advisors.
Prospect Partners III will follow a similar investment strategy to its predecessors, investing exclusively in small companies in the US in a variety of industries including manufacturing, distribution and services.
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