College of Holy Cross, Worcester, Mass., committed $10 million to the GSC Recovery Fund, a distressed debt fund, said Carol Arakelian, manager of investments for the $360 million endowment. Funding comes from cash and general rebalancing.
Separately, the endowment is reviewing a shortlist of 10 managers, selected by consultant Cambridge Associates, for an active domestic small-cap to midcap growth equity portfolio of up to $20 million, Ms. Arakelian said. Funding will come from terminating an unidentified active domestic small-cap growth equity manager because the plan wants lower volatility, she said. A selection is expected by mid-May.