The Stonehill College endowment, North Easton, Mass., boosted its timberland investments to 5% of total assets, said William McCarron, principal with Prime Buchholz & Associates, consultant for the school. Pru Timber and UBS Resource split the new funding evenly.
Before the increase, the endowment had 2% of its assets in timberland, managed by the two firms. He said funding came from cash flow.
He declined to give the total amount of the endowment fund.
The St. Louis County pension fund, Clayton, Mo., probably will narrow its search for a small-cap or midcap manager to three or four candidates this month, with final selection in October, said Ralph Bowser, retirement plans administrator. The $200 million county fund is seeking to place up to $20 million with the manager, he said. The fund's consultants received a one-month extension on assembling a short list of candidates because of the large number of responses to its RFPs, he said. Summit Strategies and J.H. Elwood are assisting with searches.
