Institutional Investors

TfL looks to expand alternatives book

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The Transport for London pension fund, based in London in the UK, will look to make further hedge fund investments as part of a plan to grow its alternatives portfolio.

It is understood that the plan is looking to build its alternatives component as it looks to diversify away from a relatively heavy equity allocation.

At the end of the first quarter of 2011 the plan had assets of $9 billion. At that point it had 2% of assets in a multi-strategy vehicle run by BlueCrest Capital Management, 0.6% of assets in a