Mississippi State University, Mississippi State, committed $10 million to a hedge fund run by Lighthouse Partners for the universitys new $20 million treasury pool and $6 million to a hedge fund run by Alternative Investment Strategies for its $80 million endowment, said David D. Easley, chief financial officer. Funding came from reducing assets across the board to reduce volatility, he said. The treasury pools asset allocation is split 50/50 between hedge funds and fixed income. The endowments asset allocation is 65% equity, 28% fixed income and 7% hedge funds. Fund Evaluation Group advised.