U.S. Holocaust Memorial Museum Endowment, Washington, hired Grosvenor Capital, a fund-of-funds manager, and Farallon Partners, a multistrategy hedge fund manager, to run $2.5 million each, said Zelda Silberman, investment officer. These are the $95 million endowments first alternative investments, Ms. Silberman said.
Funding came from rebalancing the portfolios of existing fixed-income managers, she said. The endowments asset allocation is 60% equities, including alternatives, and 40% fixed income. Madison Portfolio Consultants assisted.