The Ball State University Foundation has appointed Perella Weinberg Partners’ unit Agility to manage its $160 million endowment, Bloomberg reports. The foundation’s CIO Thomas Heck will continue to serve in his position and work along with Agility and the university’s investment committee. Agility will develop a portfolio that is diversified across geographies, asset classes and managers. The deal allows the investment committee to concentrate on issues, such as asset allocation. Mercer was previously named the foundation’s investment consultant, adds Pensions & Investments.
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