The University of Toronto Asset Management Corporation (UTAM) was established by the University of Toronto in May 2000. UTAM is a Not-For-Profit Corporation that is a wholly owned subsidiary of the University of Toronto that manages the University's pension funds, its endowment and other short and long-term investments. Total assets are about $5.1 billion. The pension and long-term capital pools target a 10% allocation to private equity, 15% to real assets (real estate, infrastructure and commodities), and 17.5% to hedge funds.