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.