Applying to H/S/W - Is having a school's endowment invested in one's PE employer's fund(s) a meaningful advantage?

When applying to H/S/W from a PE associate program, is there any sort of measurable advantage that can be conferred from having the target school's endowment/investment fund invested in one's current employer's fund(s) as an LP? FWIW, the relationship between the particular LP(s) and the PE fund is considered to be quite strong. Also, the fund is not a mega-cap firm with hundreds of LPs... the LP base is fairly consolidated. So the specific scenario that I have outlined isn't necessarily the same as, let's say, a BX to HBS type situation (since there are other factors at play here, such as universally recognized fund pedigree, strong alumni relationships, Jay Light, etc.).