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PRINT THIS PAGE Stenham, Liongate receive £40m commitment from pension plan23/07/2008. Source: AltAssets.
The Newsquest Pension Scheme has committed £40m to two hedge funds. Newsquest has invested £25m in diversified multi-strategy fund of hedge funds Stenham Universal Fund and £15m in Liongate Capital Management's Multi-Strategy Fund. The allocation to the fund of hedge funds represents ten per cent of the market value of the Newsquest Pension Scheme, according to a statement.
The Newsquest Pension Scheme is the pension scheme of Newsquest Media Group, a publisher of 300 regional and local newspapers in the UK.
Harry Wulfsohn, director, Stenham Advisors, said, 'In our view, diversified hedge fund portfolios should be the cornerstone of every pension fund and in an ever-changing financial environment it is heartening to be working alongside another UK pension fund and knowing that our expertise complements their investment goals.'
Randall Dillard, CIO, Liongate, added, 'Liongate Capital Management is delighted to have the Newsquest Pension Scheme as a new investor in our flagship Liongate Multi-Strategy Fund. We look forward to assisting Newsquest in their long-term investment objectives and developing a close relationship with their organisation. We remain focused on producing strong absolute returns in varying market environments.'
Stenham is an independent wealth and asset management group with around $5.9bn under management, of which $2.7bn is managed through its multi-manager hedge fund portfolios. The company operates offices in Channel Islands, UK, South Africa, The Netherlands and Israel with an associated office in Switzerland. It also has representation in Australia, Brazil and India.
Liongate is an investment management and research firm specialising in portfolios of hedge funds. The firm manages over $3bn in assets, through multi-strategy and strategy-specific funds of hedge funds.
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