Source: iiSEARCHESFollowing a year when nonprofits made few investments in hedge funds, search activity is expected to increase this year. Last year, assignments grew by 40% according to FEI sister database iiSEARCHES, which tracked 21 hires versus 15 in 2010. “The performance of the average hedge fund has been disappointing, both in 2011 and since the financial crisis of 2008-09,” said David Center, a consultant at Cardinal Investment Advisors. “I suspect that will lead to turnover of managers.” Indeed, it has been rough sledding for hedge funds. The Dow Jones Credit Suisse Hedge Fund Index returned -2.52% last year. For larger nonprofits, search activity will most likely be due to ....