Royal Borough of Kensington and Chelsea Pension Fund, London, hired Longview Partners and rehired Baillie Gifford to run about £100 million ($161 million) each in active global equity, according to the £430 million fund's website.
Funding comes from terminating AllianceBernstein from an active global equity mandate of similar size. The reason for the termination could not be learned by press time.
Separately, the fund hired Pyrford International and Barings Asset Management as multiasset absolute-return managers. The size of the managers' mandates could not be learned by press time. Newton was a finalist in the absolute-return search. These are the fund's first investments in this asset class.
Calls and e-mails to Alex Robertson, accountant for the fund, were not returned.