London Borough of Brent Pension Fund hired Fauchier Partners to run £9 million ($14 million) in its Jubilee Special Situations fund, a distressed debt hedge fund of funds, according to documents on the £454 million fund’s website.
Funding will come from reducing an allocation to Fauchier’s Jubilee Absolute Return fund, a multistrategy hedge fund of funds, to £32 million, according to the documents.
Fauchier recommended the move, according to the documents.
Martin Spriggs, Brent’s head of exchequer and investment, was out of the office and could not be reached for further information.
