Health Care Foundation of Greater Kansas City (Mo.) hired private equity fund-of-fund managers Pantheon Ventures and Commonfund to run $12.5 million each, subject to final contracts, said Dan Couch, CFO. 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. Consultant Ennis Knupp assisted with the shortlist search.
The foundation's board of directors will consider adding of real estate investments later this year, but specifics are not yet available, Mr. Couch said. Ennis Knupp will assist.