Regions

GLOBAL - Global institutional pension fund lost US$5trn in assets, shrinking by around 19% during 2008, a study of 11 major pension markets by Watson Wyatt has revealed.

EUROPE - Private equity firm H.I.G. Europe has acquired trade execution and custody services company FNZ Holdings as part of a management-backed buyout for an undisclosed sum.

Including: UK - Leatherhead food appoints Giddings; US - New York fund allocates $550m to emerging manager programme; UK - Hermes Private Equity hires investment manager

GLOBAL - Crédit Agricole and Société Générale have signed a preliminary agreement to combine their asset management operations.

EUROPE - Institutional investors dropped hedge funds and shifted allocations to fixed income following the Madoff scandal and disappointing returns during the fourth quarter of 2008, a survey by Mandatewire has revealed.

GLOBAL - Pension sponsors should recognise an extra 10-15% of longevity-related liabilities, while facing rapidly declining asset values, according to a report by Hewitt Associates.

GLOBAL - Aberdeen Asset Management suffered £7.6bn (US$10.4bn) in redemptions during the final quarter of 2008, as investors stripped nearly £5.4bn from its fixed income range.

Michala Marcussen discusses the move towards liability driven investment

GLOBAL - LGT Capital Partners has closed its Crown Asia-Pacific Private Equity fund after raising US$373m in subscriptions.

GLOBAL - Last year was the second highest fundraising year in the history of the private equity industry, with US$554bn of aggregate capital and 768 funds raised globally, data by Preqin reveals.