The £360m (€525.5m) Bexley Council Pension Fund will launch a tendering process in the next week for its first private equity and hedge fund mandates amounting to 5% of the scheme’s assets.
The two fund of fund mandates will be split equally with a 2.5% investment in hedge funds and 2.5% ploughed into private equity.
According to a council spokesperson: “Interest has been shown following the Pensions Committee decision to tender for these mandates.â€Â
The decision to move away from the fund’s initial 60/40 equity/bond split was prompted by an asset liability study conducted by Mercer last year.
