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

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.