Rockefeller Brothers Fund, New York, will outsource the investment of its entire $969 million in assets to Investure, said Gail Fuller, spokeswoman for the endowment. The funds investment committee and staff members now handle its investments, and with assets nearing $1 billion, the endowment has reached a size and complexity where an investment firm is needed to help us continue to make the wisest investments, Rockefeller Brothers President Stephen B. Heintz said in a news release.
Officials of the fund and Investure are discussing whether an asset allocation study is needed, Ms. Fuller said. The current allocation is 23% international equity, 21% U.S. equity, 16% hedge funds, 15% real assets, 14% fixed income and 11% private investments.
Investure runs a total of $5 billion for eight U.S.-based non-profits, according to its website.