Primate, old, managed grand university function (5-4)

I believe the answer is:

orang-utan

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'primate' is the definition.
(orang-utan is a kind of primate)

'old managed grand university function' is the wordplay.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'managed' becomes 'ran' (I've seen this before).
'grand university' becomes 'gu' (this could be a standard abbreviation I've not previously seen).
'function' becomes 'tan' (tangent, mathematical function).
'o'+'ran'+'gu'+'tan'='ORANG-UTAN'

Can you help me to learn more?

(Other definitions for orang-utan that I've seen before include "Great ape" , "Angora nut for long-armed ape of Burma" , "Endangered ape" , "11 across" , "Ape of Borneo and Sumatra" .)

I've seen this clue in The Times.

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