Vassar College, Poughkeepsie, N.Y., plans to hire two real estate...

Vassar College, Poughkeepsie, N.Y., plans to hire two real estate managers to run $20 million in private commingled funds, said Jay Yoder, CIO for the $550 million endowment fund. Vassar has a 5% allocation to real estate, which is part of its inflation-hedge asset class that also includes oil and gas and inflation-linked bonds. The goal for that allocation is 10%, and 7% has been invested to date, Mr. Yoder said. The real estate search will begin later this year.