Worcestershire County Council taps bfinance to lead alts search

Worcestershire County Council Pension Fund, Worcester, England hired bfinance to run a search for infrastructure and real estate managers, said a pension fund spokeswoman.

Selected pooled infrastructure and real estate managers will run an additional 5% allocation, about £110 million ($138 million), for the £1.9 billion pension fund.

The pension fund currently has 10% of assets invested in pooled infrastructure and real estate funds with Invesco (IVZ), Venn Partners, Walton Street Capital, Green Investment Bank and Hermes Investment Management.

“(The allocation) is designed to maintain long-term fund investment returns whilst increasing the diversification of the fund's assets,” said the spokeswoman in an email. “There haven’t been any terminations as the 5% investment will be funded through a 1% disinvestment from each of the fund's five regional equity allocations.”

Further information on the search could not immediately be learned.