University of Kentucky, Lexington, hired Cambridge Associates as non-discretionary investment consultant for its $2 billion endowment, said Todd D. Shupp, chief investment officer.
The university issued an RFP in January. Current consultant Fund Evaluation Group's contract is set to expire on May 30, 2022.
The firm did rebid for the services, Mr. Shupp said. While he said FEG was considered as part of the RFP process, Mr. Shupp declined to comment on which firms were considered finalists.
As of Oct. 31, the most recent data available, the endowment's actual allocation was 19.2% private equity, 15.5% domestic equities, 15.4% international equities, 14.1% diversifying strategies, 10.3% private real assets, 6.3% high-quality/rate sensitive fixed income, 5.7% hedged equity, 5.2% public credit, 5.1% public real assets, 3% private credit and 0.2% cash.
