Reuters – The UK Railways Pension Schemes, one of the UK’s largest plans, has invested 65 million pounds in London-based asset manager Goodhart Partners’ global long-short equity fund of hedge funds.

Railpen Investments, the fund manager of the industry-wide scheme with assets of over 15 billion pounds, has some 8 percent of its assets in hedge fund strategies.

”Goodhart’s Long-Short fund offers large institutions exposure to small and specialist hedge fund managers, with the degree of governance and due diligence these allocations require,” said Paul Jeffries, an investment analyst at Railpen.

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West Palm Beach (HedgeCo.net) – Roy H. Callahan has been selected as portfolio manager and member of the investment committee at alternative investment firm, Coast Asset Management, LLC firm’s , effective June 15.

"We are thrilled that Roy Callahan has agreed to rejoin our team," said David Smith, president of Coast. "Roy brings a wealth of knowledge and alternative investments expertise that will be invaluable as we continue to steer Coast through the challenges brought on by the global recession."

Callahan joins Coast from Stratos Advisers, a southern California-based hedge fund of funds manager. Previously, Callahan worked at Financial Risk Management (FRM) where his responsibilities included serving on the investment and portfolio management committees as well as training and mentoring FRM investment analyst groups. He spent six years from 1994-2000 at Santa Monica, CA-based Coast as director of research where he helped Coast founder David Smith develop and launch the firm’s initial multi-manager investment strategies.

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