Wichita State University Foundation, Wichita, Kan., named John McStay Investment Counsel, Shaker Investments, Cooke & Bieler and Speece Thorson as finalists in its search for two managers to run active domestic midcap equity portfolios of $6 million each, a new allocation, said Patsy Selby, associate vice president of finance. Each firm will be interviewed during the second week of August, she said.
Separately, the $80 million endowment is conducting a shortlist search for one or two managers to run $20 million in domestic large-cap equities. Fund officials havent determined whether the mandate will be active or passive, but if it is active, the amount will be split evenly between growth and value styles.
If the foundation does decide to make a change, funding for the large-cap mandate will come from terminating either Cohen, Klingenstein & Marks, which manages $12 million in active domestic large-cap growth equities, or Oppenheimer Capital, which manages $12 million in active domestic large-cap value equities, she said. Funding for the remainder of the portfolios will come from fixed income and large-cap equities, Ms. Selby said. The plan is conducting searches to see what else is out there, she explained.