Michigan State University’s endowment is on something of a hedge fund kick. The $1.2 billion Common Investment Fund hired one manager in February and is poised to add two more.
The university’s trustee finance committee has recommended the addition of CrossHarbour Capital Partners and Contrarian Capital Management to its portfolio, HFMWeek reports. In February, MSU hired Conatus Capital to take over a $20 million mandate previously run by Shumway Capital Partners, which in February announced it would return all outside capital to investors.
MSU has a 25% absolute return allocation.