Cheshire Pension Fund is the latest UK pension plan to favour direct investing with larger ‘brand-name’ funds as the backbone of a sizeable hedge fund portfolio.
The Chester-based scheme has now fully funded its 15% hedge fund allocation, and a mix of direct and indirect investments have seen it allocate roughly $704 million to hedge funds run by Och Ziff Capital Management, Winton Capital, Arrowgrass Capital Partners and Fauchier Partners, as the...