The Health Care Foundation of Greater Kansas City (Mo.) board of directors will consider adding real estate investments later this year, but specifics are not yet available, said Dan Couch, CFO. Consultant Ennis Knupp will assist.
The fund hired private equity fund-of-fund managers Pantheon Ventures and Commonfund to run $12.5 million each, subject to final contracts, Mr. Couch said. Funding will come from reducing the $430 million foundation's equity investments; no managers will be terminated. Foundation officials selected the fund of funds to further diversify the investment portfolio. Ennis Knupp assisted with the shortlist search.