Institutional Investors

Transport for London eyes hedge funds

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The Transport for London pension fund, based in Kent in the UK, is considering a maiden investment in hedge funds.

The plan, which has total assets of $6.6 billion, is examining the asset class with a view to making an investment in alternatives, possibly before the end of the year.

The decision to consider alternative investments as a way of improving the overall risk/return characteristics of the fund was made nearly two years ago.

Thus far its only move into alternatives was a recent allocation to Trillium PPP, which invests in infrastructure