Kansas State University Foundation, Manhattan, will search for...

Kansas State University Foundation, Manhattan, will search for domestic large-cap value and growth managers and midcap value and growth managers next month, said David Weaver, vice president of real estate and investments. The search is being undertaken to diversify the $146 million endowment, he said. The number of managers to be hired and portfolio sizes are undetermined. Funding will come from reducing domestic indexed equity, Mr. Weaver said. Cambridge Associates is assisting. Also, the endowment recently completed an asset allocation study. The new mix is 35% domestic equities; 15% core fixed income; 10% international equities; 10% real estate; 9% alternative investments; 7% emerging markets; 5% absolute returns; 5% high-yield bonds: and 4% natural resources. The previous mix was 37% domestic equities; 14% core fixed income; 13% real estate; 9.5% international equities; 7.5% emerging markets; 5% private equities; 5% high-yield bonds; 4% venture capital; 3% natural resources; and 2% distressed debt.