U. of Colorado’s Endowment Is Outsourced to Firm of Its Former Manager

The University of Colorado is outsourcing its $825-million endowment to the boutique Wall Street firm that the university’s former endowment chief joined this month, tripling the size of the firm’s endowment-management program, The Wall Street Journal reports. Money-management experts say the move is unusual because Colorado’s foundation didn’t seek competing bids; the foundation said it didn’t consider other firms because of its comfort level with the former manager.