LB Camden Pension Fund appoints new Hedge Fund manager.
Date: Wednesday 3rd April 2012The London Borough of Camden Pension Fund has been seeking to diversify its asset portfolio by allocating 5% of its funds (approximately £50m) to alternative investments. To this end, following a review of alternative asset classes, Camden have been searching for a Hedge Fund manager to run a Fund of Hedge Funds mandate.
Camden enlisted the advice of Investment Consultants Hymans Robertson to administer the procurement process.
From an initial response from over 50 firms, 5 were shortlisted by a panel of Councillors supported by officers. BlueCrest Capital Management were chosen as the preferred manager.
The recommendation to award the mandate to BlueCrest was agreed by the Audit & Corporate Governance (Pensions) Sub-Committee.
Councillor Peter Brayshaw, Chair of Camden Pension Subcommittee and the interview panel, said "BlueCrest's bid was very impressive, in a large and good quality field. I look forward to the benefits this new mandate will bring by diversifying the Fund asset base in the current financial climate."
Notes to Editor
Fund asset size: £994.5m
No. of members: 18,225
No. of scheduled and admitted bodies: 34
Pension Fund Annual Report 2010/11
Ref Code: PR 1609
Page last updated Jun 20, 2012 8:52 AM