College of Holy Cross, Worcester, Mass., hired Dalton Greiner to manage $10 million in active domestic small-cap value equities for its $363 million endowment, said Carol Arakelian, manager of investments.
Funding came from reducing a $25 million active domestic small-cap growth equity portfolio managed by Essex Management, leaving it with $10 million. The remaining $5 million was converted to cash. Essex also manages $1.8 million in a private equity venture fund. Endowment officials made the change to maintain a 50-50 split between growth and value, she said.