University System of New Hampshire, Durham, hired Vanguard Group to run a total of $24 million in two domestic equity index funds for its $460 million combined endowment pool, according to recently released meeting minutes of the system's finance committee on investments.
The system invested $13 million in the Vanguard Small Cap Blend index fund, funded by the termination of Ceredex Value Advisors from a domestic small-cap value equity portfolio, and $11 million in the Vanguard Midcap Institutional Index fund, which was funded by the termination of Artisan Partners from a domestic midcap equity portfolio.
The reasons for the terminations were not given.
Investment consultant Prime Buchholz & Associates assisted.
Karen Benincasa, the system's associate treasurer, did not return phone calls by press time.