Dutch BP Pension To Quit Hedge Funds

Dec 13 2010 | 3:13am ET

The pension for gas company BP’s Dutch unit is giving up on hedge funds.

Stichting Pensioenfonds BP has decided to redeem its only hedge fund investment, HFMWeek reports. The pension will end the allocation next year, and has not decided how to redeploy the money.

The BP plan would not identify the firm being terminated, nor did it reveal how much it was managing. But a source told HFMWeek that the unidentified firm was a fund of hedge funds and that the €650 million pension had “concerns over liquidity.”

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