Institutional Investors

UK’s Merseyside consolidates FoHF investments with $120m extra to PAAMCO


The $7.3 billion Liverpool-based Merseyside Pension Fund has given Pacific Alternative Asset Management Company (PAAMCO) an early Christmas present.

One of the UK’s largest public local authority pension funds has allocated its incumbent manager of five years some $120 million, effectively tripling their current allocation to PAAMCO’s funds of hedge funds, which with $9.6 billion is the 10th largest funds of funds globally.

Merseyside will be consolidating its fund of hedge funds investments with PAAMCO by the end of the year. According to a top 100 holdings report for 31 December 2008, Merseyside