New School University, New York, committed $5 million to the Blue...

New School University, New York, committed $5 million to the Blue Orchid Select hedge fund of funds, said Frank Barletta, associate vice president and treasurer. Funding comes from cash, Mr. Barletta said. No consultant was used. The $125 million endowment's asset allocation is 49% equity, 27% fixed income and 24% alternatives, including hedge funds.