Institutional Investors

Fauchier loses Lewisham


The $1.23 billion Lewisham Pension Fund, based in London in the UK, has redeemed its holding in Fauchier Partners, a London-based fund of funds with $6.3 billion in assets.

The London local authority first invested in the fund of funds portfolio in September 2008, with a total mandate of 3% of assets or around $37 million.

A presentation by Fauchier Partners to the investment committee highlighted the fact that the two months after Lewisham’s investment constituted the worst performance in Fauchier’s history.

Having agreed not to put capital at risk by trying to claw back this