Institutional Investors

UK's Croydon council hires Fauchier, BlueCrest, Nordea for mandates reshuffle


Croydon Pension Fund has moved swiftly to appoint Fauchier Partners, BlueCrest Capital Management and Nordea to run its alternatives mandates, as part of an overall reshuffle in its asset allocation prompted by market falls.

The $808 million fund has given around $16 million - 2% of total assets - each to Fauchier and BlueCrest, to be run in diversified fund of funds mandates. Meanwhile, Nordea will run around $32 million in a punchy GTAA mandate.

Of particular interest is the GTAA allocation, which is expected to outperform its benchmark by 15%