Media Super, Melbourne, Australia, hired Fortitude Capital to manage a market-neutral strategy and Australian equities manager Merlon Capital Partners to exclusively run a “low-beta” strategy for the A$2.6 billion (US$2.7 billion) fund.
Jon Glass, chief investment officer with Media Super, said the two investments comprise Media Super's “alpha opportunities” portfolio and are based on equity investments. He would not reveal how much money is invested in the strategies but said last year that Media Super aims to invest up to 5% of its assets in alternatives strategies managed by Australian managers.
Mr. Glass is searching for another alternatives manager to include in the portfolio.
Harbridge Investment Partnerships, which performs due diligence on boutique managers, and asset consultant Frontier Investment Consulting are assisting.
Simon Mumme writes for I&T News, Sydney.