Wichita State University Foundation, Wichita, Kan., is conducting a shortlist search for a hedge fund manager to run $4 million, said Patsy Selby, associate vice president of finance. Funding would come from terminating hedge fund investments run by either Archstone Partners or Petros Capital, which manage $4 million each for the $80 million endowment. It has not set a deadline for a selection.
Separately, the endowment is compiling shortlists in searches for up to two managers to run $10 million to $12 million each in international equities; two managers to handle $8 million each in fixed income; one manager to run $6 million in active domestic small-cap growth equities; and one manager to run $6 million in active domestic small-cap value equities, Ms. Selby said. Specifics have not been decided for all the portfolios, she said.
If the plan were to hire new managers, it would move money from existing active international equity, domestic fixed income and domestic small-cap growth equity managers, she said.
Endowment officials want to look at other managers, Ms. Selby said. Current managers will not be asked to rebid, but they may be retained once the searches are finished.