Institutional Investors Mergers & Acquisitions / Joint Ventures

BVK allocates nearly $2bn to managed accounts

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Germany’s largest public pension fund with more than $71 billion, Bayerische Versorgungskammer (BVK), is allocating to hedge funds directly and it has selected Man’s managed account platform to run its investments. The German pension fund awarded Man a $1.7 billion managed account mandate last month.

Under the agreement, BVK will start allocating funds over the course of 2011. BVK will gain access to Man’s managed account capabilities and the format offers increased transparency, liquidity and control, according to industry proponents.

BVK is an amalgamation of 12 first and second pillar pension schemes for liberal professions (such as doctors,