The BT Pension Scheme (BSPS) has awarded a $1bn (£777bn) private equity mandate to Hermes GPE, to invest globally.
US-based Federated Investors has completed its acquisition of a 60% interest in Hermes Investment Management from the BT Pension Scheme (BTPS).
The BT Pension Scheme (BTPS) is to sell two-thirds of its interest in Hermes Fund Managers, the investment company it founded 35 years ago, to American asset manager Federated Investors for £246m.