AUSTRIA - The Vienna-based OEPAG Pensionskassen is expected to tender for private equity managers in early 2005.
The e1.6bn scheme is also planning to appoint a real estate manager for the American market next year.
Curzon Global Partners, the London-based firm, has recently been appointed as real estate managers for the European market. The fund has allocated 5-7% to the European real estate market or about e90m of its portfolio.
Fund officials said: “We may invest up to 5% of the fund in private equity. Due to the risk aspect, we feel it is better to take the fund of funds route.
“We expect to appoint specialist private equity managers in 2005.”
OEPAG has allocated 4% of its portfolio to emerging markets and has appointed the Swiss-based Sarasin Investment Management to focus on close- end country funds and the Raiffeisen Eastern European Fund.
The fund has also sealed its first foray into hedge funds with a e40m allocation to Swiss-based hedge fund manager RMF Investment Management. Though this is the fund’s core investment in the sector, allocations to single strategy satellite investments have also been made.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.