University of Vermont and State Agricultural College, Burlington, hired Generation Investment Management to run $25 million in active global equities for its $617 million endowment pool.
The university's investment subcommittee approved the manager hiring at its March 17 meeting, recently released meeting minutes show.
Funding comes from the reduction of portfolios managed by international equity manager Capital International and passive domestic equity manager RhumbLine Advisers in "proportion to Generation's then-current U.S. and non-U.S. equity exposure," according to the minutes. Further information was not provided.
Investment consultant Cambridge Associates assisted.
University spokeswoman Erin Dickinson referred questions to the minutes.