Butler University, Indianapolis, hired Conseco as a midcap growth equity manager and Speece, Lewis and Thorson as a midcap value equity manager for its $145 million long-term investment portfolio, of which the university’s endowment accounts for about 85%.
Each firm received $11 million, which came from the termination of two active midcap to large-cap equity managers, said Bruce Arick, vice president of finance at the university. He would not identify the terminated firms, but said the move was made to create a pure midcap equity portfolio.
