Global information technology company Unisys hired Cardano as OCIO for three U.K. pension funds.
The Unisys U.K. Pension Trustee, Milton Keynes, England, hired the advisory and investment management firm following a competitive selection process, a Cardano news release said.
The three pension funds — Unisys Pension Scheme, Unisys Payment Services Pension Scheme and Unisys Public Sector Pension Scheme — collectively have £1.2 billion ($1.5 billion) in assets across growth and liability-hedging portfolios.
As OCIO, Cardano will provide investment advice, investment management, sustainable investing and risk management.
Cardano was appointed following a governance review, said Hetal Kotecha, director of Independent Trustee Services and the chairman of the Unisys trustees, in the news release.
In an email, Mr. Kotecha said there was no previous partial delegation.
Cardano had £50 billion in client assets under management as of January.