Stephens College endowment fund, Columbia, Mo., hired the Stratevest Group to manage 25% of its $18 million in assets. Stratevest was hired as a balanced manager in a diversification move, said Gordon Afdahl, associate vice president and controller.
NationsBank, which took over management of the assets with its purchase of Boatmen's Bank, had been the fund's sole investment manager. It will continue to manage 75% of the fund in a balanced strategy. NationsBank subsidiary TradeStreet Investment Associates will run the equity portion, he said. The search was conducted in-house.