Jewish Community Foundation of Greater Phoenix, Scottsdale, Ariz., hired Graystone Consulting as investment consultant for the $48 million foundation, President and CEO Richard Kasper confirmed in an email.
The RFP was issued in January because it had been five years since the last search process. Canterbury Consulting was the incumbent consultant and did rebid.
"We continue to have a good relationship with Canterbury, and we hold the firm in very high regard," Mr. Kasper said. "Ultimately, the decision was not so much to replace Canterbury as it was to hire Graystone."
The four finalists were Graystone, Canterbury, Ellwood Associates and DiMeo Schneider.
The foundation has a target asset allocation of 45% equities (which consists of 17.5% large-cap growth, 17.5% large-cap value, 5% smidcap growth and 5% smidcap value), 35% fixed income, 10% alternatives and 10% international equities.