Mississippi State University Foundation, Starkville, hired REIT manager Cohen & Steers and hedge fund-of-funds firm Pointer Management and made a commitment to Private Advisors' small-company buyout fund. David Easley, CFO at the $130 million foundation, would not say how much each firm will run but said the hirings were the final part of a plan to increase the fund's alternative investment portfolio to 25% of assets, from 10%. Funding comes from reducing the foundation's domestic equity and fixed-income portfolios, although Mr. Easley would not provide an exact breakdown. Fund officials wanted to lower the fund's volatility and increase diversification. Fund Evaluation Group assisted.
Mississippi State University Foundation, Starkville, hired REIT...
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