The Common Fund, Westport, Conn., increased the allocation to Iridian Asset Management in its core equity fund, and moved Barlow Partners to its standalone fund of hedge funds, said Stephen Eckenberger, head of domestic equities. Iridian's allocation will rise to 10% of The Common Fund's $1 billion core equity fund from 3%, and will be funded with a rebalancing of existing managers, Mr. Eckenberger said. As part of the hedge fund program, Barlow Partners will run about 10% of a $500 million fund of hedge funds, using a farm team approach. Four of The Common Fund's six direct hedge fund managers came through farm team promotions, he said. Barlow will no longer be a manager in The Common Fund's multistrategy equity fund, where it runs about $80 million.