Institutional Investors

Australia’s AvSuper adds $50m to FoHFs with Fauchier, Aurora


Australian pension AvSuper, which has roughly a $1 billion investment portfolio, is allocating a total of $50 million to fund of hedge fund firms Fauchier Partners of London and Chicago-based Aurora Investment Management.

AvSuper is investing $25 million each in the multi-strategy Aurora Offshore II Fund and Fauchier’s Absolute Return Trust. The two new mandates, effective on November 1, replace AvSuper’s previous allocations to London-based Duet Alternative Investments and Australia’s Colonial First State.

Canberra-based AvSuper, which was set up in 1990 to serve aviation industry workers, had 10% of its portfolio allocated to alternatives – which it defines