Institutional Investors

Co-op appoints Mercer


The Co-operative Group's PACE pension scheme in the UK has appointed consultant Mercer to provide implemented consulting services for alternative investments as part of a total allocation that will rise to around 13% of the $8.2 billion fund's assets over time.

Mercer will determine the allocation across a diversified portfolio of alternatives, which will be structured as a Dublin-based QIF. Although the asset allocation is likely to change according to market conditions, it is thought that at present the hedge fund allocation target is around 13%. Hedge fund investments will be provided via a mix of single manager and