Vassar College, Poughkeepsie, N.Y., is preparing an RFP for its search for two core real estate managers to manage $20 million in private commingled funds. Its expected to be ready in August or early third quarter. Separately, the $580 million endowment fund has put its search for a hedge fund manager on hold indefinitely, said Jay Yoder, director of investments. The decision was made at the June board meeting, said Mr. Yoder, who declined to say why. The fund also hired State Street Global Advisors to run $40 million in a Russell 1000 index fund, replacing an active value manager because "we believe active managers will have a hard time outperforming passive managers of large-cap and midcap value index funds. Mr. Yoder would not name the terminated manager. Vassar also committed $10 million to Commonfund Capitals New Leaders Fund, a private equity partnership that invests in first- and second-time, or new and repeat, funds. The money will come from cash flow.