Michigan State University, East Lansing, invested $25 million in Kabouter Management's international small-cap select fund for its $1.9 billion endowment.
University trustees approved the recommendation of the board's finance committee at their April 22 meeting, confirmed Jason Cody, an MSU spokesman, in an e-mail. The strategy uses a quantitative approach paired with fundamental analysis to identify highly profitable, small growth companies in developed international markets, according to a memo to MSU trustees from Mark P. Haas, vice president for finance and treasurer.
Cambridge Associates assisted with manager selection. Funding is from cash.