U.K. Pension Buffer Plans Alternative Credit Mandates

Jul 9 2010 | 10:59am ET

Britain’s Pension Protection Fund is making good on its pledge to diversify its portfolio through alternative investments. The agency, which backstops the U.K.’s pension funds, is looking for as many as 10 managers to run alternative credit strategies portfolios.

PPF spokeswoman Ana Moreno told Pensions & Investments it was unclear exactly how much that the £4.6 billion fund would invest in alternative credit, and said that chosen managers would receive their allocations over the next four years. In addition to hedge funds, Moreno said that PPF will look at other managers running high-yield corporate debt, distressed debt, mezzanine financing, bank loans and other strategies.

PPF in May decided to increase its alternative investments allocation to between 20% and 25%, and for the first time added hedge funds and private equity funds to its list of acceptable investments.

Interested managers have until July 27 to submit a proposal to PPF contracts manager Colin McAlpine. McAlpine’s e-mail address is colin.mcalpine@ppf.gsi.gov.uk.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...