Institutional Investors People Moves

Universities Superannuation Scheme hires ex-Hermes CIO

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Roger Gray succeeds Peter Moon as chief investment officer at the Universities Superannuation Scheme (USS) in the UK.

Moon is retiring after 17 years as the $38 billion retirement scheme is planning to invest more than $1.4 billion in hedge funds. The move increases the alternative asset allocation to 20% of the overall portfolio and will result in direct allocations to roughly 25 hedge funds, totalling $80 million each. USS is the second largest pension scheme in the UK, managing the pension assets of nearly 400 member institutions which include universities, higher education and other associated institutions.

Gray has