Window to the World Communications Inc., Chicago, hired Northern Trust Global Investments to manage $8.5 million in an S&P 500 index fund for the $22 million endowment. "The endowment originated in 1987 from the proceeds of the sale of Chicago magazine,” said Reese Marcusson, executive vice president and CFO of WTTW. The company also hired PIMCO to manage about $7 million in passive domestic fixed income; TCW, $4 million, active domestic small-cap equities; and American Funds International, $3 million, active international equities.
The four managers will replace Princeton Capital, which ran all of the endowment’s assets.
"We wanted a more diversified allocation,” said Mr. Marcusson, pointing out that Princeton Capital is primarily a midcap fixed-income provider.
