YMCA Retirement Fund, New York, committed $50 million each to Tremont Advisers and Grosvenor Capital Management for hedge funds of funds, said Victor Raskin, chief investment officer. The move is the $3.3 billion systems first hedge fund allocation, he said. Funding will come will come from active equity portfolios, probably domestic large-cap core and international. Mr. Raskin said it has not yet been determined which managers will be pared. The fund did not use a consultant.