Institutional Investors

Aberdeen replaces Bramdean as UK's Hampshire readies $500m


Hampshire County Council in the UK, with around $5.4 billion in total assets, has changed its alternatives consultant in controversial circumstances as it looks to press ahead with investing a total of around $500 million in alternatives, including hedge funds, private equity and infrastructure plays.

The council had had a longstanding relationship with Nicola Horlick's Bramdean Asset Management and part of its alternatives allocation was into Bramdean Alternatives Ltd, the $291 million multi-asset alternatives vehicle set up by the group.

In November, however, one of Bramdean Alternatives' major shareholders, Vincent Tchenguiz, led a successful bid to oust the fund's board