Moving almost 50% of its assets, the $220 million State University of New York Productive Endowment Fund, Buffalo, N.Y., hired two managers, said Lori L. Berlinger, manager-endowment fund accounting and budgeting.
Fidelity will run $63 million in large-cap growth equities and Investment Counselors of Maryland will run $30 million in small-cap value equities.
Funding will come from two managers that were dropped; she declined to name them. Mercer assisted in the searches.
