Claremont McKenna College, Claremont, Calif., hired TCW to manage a $15 million small-cap domestic growth portfolio for the $650 million consolidated investment fund, said Joseph Cardoza, chief investment officer. He declined to name which manager TCW is replacing but said it was terminated because of performance.
Separately, the college reallocated assets within its domestic equity portfolio, which comprises 82% of total assets. The growth portion has been raised to 10%. Funding for the switch comes from value managers. The remaining 18% of assets are invested in alternatives.