Wichita State University Foundation, Wichita, Kan., hired Dodge & Cox to manage $10 million in active domestic large-cap value equities and Lighthouse to run $4 million in a hedge fund of funds, said Patsy Selby, associate vice president for finance.
The $77 million foundation funded the equity hire by terminating Oppenheimer Capital, which managed $10 million in the same style, for performance. Jeff Sheran, marketing director at Oppenheimer, declined to comment. The Lighthouse hiring was funded by terminating Petros, which managed $4 million in a hedge fund, she said. Officials felt more comfortable investing in a hedge fund of funds, she said.
The current allocation is 70% equity, 20% fixed income and 10% alternatives. Fund Evaluation Group advised.
