Berea College, Berea, Ky., is considering more alternative investments for its $460 million endowment, said Leigh Jones, vice president of business/finance.
Hirtle, Callahan & Co., hired in December to act as a CIO for the fund, is looking at real estate equity plus venture capital, distressed securities and hedge fund commitments. The firm also will be in charge of establishing asset allocation and monitoring manager performance, Mr. Jones said.
The investment committee hired Hirtle, Callahan to take a more proactive approach in choosing additional opportunities to its alternative investment program and will be making commitments of $5 million to $10 million each.
Mr. Jones said an overall investment plan will be presented to trustees Jan. 24.