The Investment Fund for Foundations hired alternatives investment...

The Investment Fund for Foundations hired alternatives investment consultant Cliffwater as an additional consultant to conduct allocation work across all asset classes, said David Salem, chairman of TIFF, a manager-of-managers for charitable foundations with about $3 billion in assets under management. "We hired Cliffwater because we admire the rigor they use in their research process and asset allocation work," Mr. Salem said. Mr. Salem said TIFF already uses some consultants, and hired Cliffwater as an additional consultant because the firm was impressed with its research.