Knox College, Galesburg, Ill., might start a shortlist search this spring for its first active domestic small-cap growth equity manager, which will run about $2 million, said Thomas Axtell, treasurer and vice president for finance and administrative services. Members of the $48 million endowment's investment subcommittee think the fund can tolerate "slightly more risk," Mr. Axtell said. The funding source and exact portfolio size have not been determined. Subcommittee members will generate their own shortlist, he said. If the search is conducted, a selection might be made in June.