University of Kentucky, Lexington, hired Grantham, Mayo, Van Otterloo & Co. to run a global tactical asset allocation strategy for its $1.1 billion endowment, confirmed spokesman Jay Blanton.
GMO will run 4% of the endowment, or about $44 million, when the strategy is funded at the end of December. The funding source has not been determined yet.
The endowment has an 8% allocation to GTAA, with Pacific Investment Management Co. managing the other half.
An RFP was issued in July. Investment consultant R.V. Kuhns & Associates assisted.
