Investec Private Bank, part of Investec, is looking to shift a large part of its fund of hedge funds exposure - totalling several hundred million dollars - into directly invested segregated mandates.
It is understood that the move will involve redeeming from a number of funds of funds, and the bank has already identified a number of opportunities for investment in the segregated mandate space.
The bank runs over $3 billion in discretionary investments for clients across Europe. Its European wealth management business operates under chief investment officer, Eric Ebermeyer, who joined last summer.
Ebermeyer was formerly at Iskander