London Borough of Camden Pension Fund, London, issued an RFI for a hedge fund-of-funds manager to run a portfolio estimated between £40 million ($64 million) and £50 million, said Peter Taylor, pension fund accountant.
The move is the £956 million fund's first hedge fund allocation. No decision has been made on funding, but it likely will come from the fund's equity portfolio, Mr. Taylor added.
According to the fund's annual report, Aberdeen Asset Management and Fidelity Investments each managed global equity portfolios around £250 million as of March 31. Legal & General Investment Management ran a U.K. equities strategy estimated at £260 million.
Proposals are due Dec. 5, and at least one manager is scheduled to be appointed in the first quarter of 2012. Further information can be obtained from consultant Hymans Robertson via e-mail.