UK - The £340m London Borough of Brent Pension Fund is looking to appoint its first hedge fund manager.
The scheme has hired Mercer Investment Consulting to help find a fund-of-hedge funds manager to run a portfolio of approximately £17m.
Mercer senior investment consultant Robert Howie said the scheme is making its first allocation to the asset class in a bid to boost returns and cut portfolio risk.
The deadline for submissions of interest is September 29 and the winning firm’s mandate will be funded on January 1, 2005.
Interested parties should contact Howie on 020 7963 3128 or by email at [email protected] Alternatively, send tenders/requests to participate to Mercer Investment Consulting, Att: Robert Howie, Telford House, 14 Tothill Street, London, SW1H 9NB.
The scheme’s current fund manages include Bank of Ireland Asset Management, Gartmore Investment Management, Henderson Global Investors, Merrill Lynch Investment Managers and Westport Private Equity.