UK - The £562.4m (US$988m) London Borough of Tower Hamlets Pension Fund has postponed a decision on investing in private equity as tough market conditions have seen the value of the fund fall by over £100m since the end of March, MandateWire reports.
"I think that's been deferred for a bit, until we find out if we've got any money to invest," Jim Ricketts, corporate accouting manager at the fund told MandateWire.
Ricketts said the scheme, as a local government fund, could afford to take "a longer term perspective" in its investment decisions and was not unduly worried about the current slump in value amid what he described as "exceptional" market conditions.
"I think we'll ride it out," he said.
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