Virginia State University, Petersburg, rehired Spider Management Co. and hired Consequent Capital Management as the discretionary investment managers for its $80 million investment pool of endowment funds.
The university issued an RFP in October. The other incumbent manager Morgan Stanley did rebid for the services, said Anna M. Yates, buyer for the university.
Ms. Yates could not provide further information about finalists or how the investment pool's assets are split between the managers.
Spider Management also oversees the $2.4 billion endowment for the University of Richmond, Richmond, Va.
