Institutional Investors

Brent plans new foray

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The pension fund for the London Borough of Brent is understood to be looking to increase its total allocation to hedge funds.

The $559 million plan made its first foray into the asset class via a $33 million allocation into a fund of funds managed by Fauchier Partners. However, as part of a recent shakeup that has seen it increasing its hedge fund target to a total of 10%, it may conduct a search for a new vehicle.

It may also conduct a search for a manager to run a GTAA mandate of around $33 million. The new target allocation