Louisiana State University, Baton Rouge, named Allianz Hedge Fund Partners, Arden Asset Management, Mesirow Financial Advanced Strategies and Goldman Sachs Hedge Fund Strategies Group as finalists in its search for a hedge fund-of-funds manager to run about $13 million for its $325 million LSU Foundation, said Philip Griffith, investment director. The investment committee also named AllianceBernstein and Emerging Markets Investors as finalists in its search for a firm to manage $9 million in emerging markets equity. Finalists in both searches will make final presentations at an investment committee meeting Friday.
The foundation will search for a private equity manager to run about $8 million after the other searches are completed, Mr. Griffith said. No details were available.
The changes are the result of an asset allocation study conducted by consultant CRA RogersCasey, which concluded that the new investments could give the endowment slightly higher returns with about the same level of risk.