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Investec redeeming from funds of funds

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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