Search activity for the first quarter of 2014 increased more than 40% from the prior quarter and first quarter of 2013. The number of equity searches jumped to 37 from 15 in the prior quarter; the number of fixed-income searches also increased significantly. More than $3 billion of non-U.S. fixed-income mandates were issued in the quarter. Searches for alternative money managers also rose, with real assets and real estate mandates representing more than 60% of the alternatives activity. Among the largest, George Washington University is looking for an outsourced provider for its $1.4 billion endowment.