The West Midlands Pension Fund has invested £40 million ($64 million) in a global long-short equity fund of funds.

The West Midlands Pension Fund, which boasts £7 billion in assets, making it the third largest pension scheme in the U.K., allocated the funds to Goodhart’s Global Long-Short Equity Fund. 

“West Midland’s decision to invest in the Global Long-Short Equity Fund is a clear endorsement of our focus on finding specialist managers and building an uncorrelated absolute return portfolio,” said Vincent McEntegart of Goodhart Partners.
 
Judy Saunders, chief investment officer for West Midlands, added, “Goodhart’s distinctive investment-driven approach fits well with our strategy of having a few specialist equity funds alongside passive management.”