Louisiana State University, Baton Rouge, will begin a shortlist search next month for the $290 million endowment's first full-time investment consultant, said Phil Griffith, investment manager. Auditor Postlethwaite & Netterville, which conducted a performance review of the endowment, recommended hiring a consultant to review the asset allocation and determine whether the fund should add alternatives, Mr. Griffith said. Officials will determine their own shortlist of firms to contact; Postlethwaite & Netterville will not be considered, he said. No RFP will be published. A hire is expected by the end of the year.
The endowment's asset allocation is 65% equity, 35% fixed income.