Institutional Investors Mergers & Acquisitions / Joint Ventures

USS hires managed account platform for hedge funds


Universities Superannuation Scheme, at $45 billion, the second-largest private-sector UK pension fund, is understood to have hired the Man Group's new managed account platform for its direct hedge fund investment programme. At the end of 2009, Man Investments set up a managed account joint venture with Credit Suisse.

Mike Powell

Managed account platforms are typically either bank-owned and historically a platform for structured products, or fund of funds-owned, like Gottex or Lyxor, where other rival funds of funds would have a problem using them.

This month, Altinus, a brand new administrator-based managed account platform, goes live.