Ball State University Foundation, Muncie, Ind., is considering adding...

Ball State University Foundation, Muncie, Ind., is considering adding venture capital and private equity investments, and may also start investing in hedge funds, said David Bahlmann, president and CEO. Officials for the $110 million foundation are conducting a comprehensive review based on a new strategic investment policy. Mr. Bahlmann said the study will continue over the next two years, but officials will begin making decisions about changes at the June 27 board meeting, he said. DeMarche Associates is consultant, but plan officials may hire additional consultants to assist, Mr. Bahlmann said; details have not been finalized.