Memorial Sloan-Kettering Cancer Center, New York, hired Grantham Mayo Van Otterloo to manage $100 million in active domestic large-cap core equities; Westport Investments, $50 million in active domestic small-cap value equities; and State Street Global Advisors, $75 million in Treasury inflation-protection securities, said Mike Gutnick, CIO. Funding for all came from rebalancing; the hires came after the $1.7 billion endowment reduced the growth portion of its equity portfolio and increased the core/value component, he said.
The endowment also committed $10 million each to secondary partnerships Dover Street Fund of Funds and Landmark Equity Partners XI. Funding for both came from cash.
Cambridge Associates assisted.
