Pace University , Briarcliff Manor, N.Y., committed $4 million each to...

Pace University, Briarcliff Manor, N.Y., committed $4 million each to Commonfund and FBR Arbitrage for alternative investments for its $93 million endowment, said Ronald A. Nahum, associate vice president of finance and administration and assistant treasurer. Funding came from terminating T. Rowe Price, which ran $8 million in international equities. Steven Norwitz, vice president of public relations at T. Rowe, declined to comment. KPMG advised on the hires.