British Railway Pension Dumps Two Funds Of Funds

Jun 20 2013 | 10:41am ET

The U.K.'s Railway Pensions Scheme is getting on board with the shift from funds of hedge funds to direct hedge-fund investments.

The £19 billion pension has fired two of its three funds of funds and reallocated half of its £2 billion hedge fund portfolio to single-manager funds, Financial News reports. The change will give RPMI's staff more control over its assets, chief investment officer Keith Shepherd said.

RPMI had invested with Blackstone Alternative Asset Management, Grosvenor Capital Management and Rock Creek Group. Shepherd would not tell FN which of the three had been terminated.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

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

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...