The £541 million ($802 million) London Borough of Lambeth Superannuation Fund is planning to tap new managers for private equity and real estate. An investment strategy review is underway, during which it will set specifics on the size of the mandates. Firms will be hired by the fourth quarter.
The move comes from a decision to reduce the scheme’s exposure to equities. It invests in equity (70%), U.K. gilts (12%), U.K. index-linked bonds (5%), global property (8%) and private equity (5%). Xafinity is the consultant.
This article was originally published in Alternative Investment News.