Leicestershire County Council Pension Fund, Leicester, England, has committed £40 million ($50.8 million) to CRC Capital Release Fund III, a European bank capital release fund managed by Christofferson, Robb & Co., said Colin Pratt, investments manager at the pension fund.
The £3.9 billion pension fund has a target allocation of 4% to 6% of total assets to an "opportunity pool," said an investment subcommittee document dated June 14. "In broad terms, these should be considered as investments that are anticipated will produce returns that are at least as high as those expected from equities markets, but which will provide an element of diversification from broad based equity markets," the document said. "They will generally not fit comfortably elsewhere within the fund's overall asset allocation strategy, and will often be investments that take advantage of market opportunities that exist at a point-in-time but that appear unlikely to persist indefinitely."
