The British Broadcasting Corp. Pension Trust (BBC Trust) has selected Prisma Capital Partners and Cambridge Associates as its hedge funds portfolio managers, HFMWeek reports. The $8.9 billion pension trust has allocated $272 million to investment adviser Cambridge and $94 million to fund-of-hedge-funds firm Prisma Capital.
The move comes as BBC continues to expand its investment diversification level in a bid to manage its $2.21 billion deficit. The trust will also consider fresh searches in the future. The scheme, which has more than 60,000 members, invests nearly 14.7 percent in alternative assets and 7 percent in hedge funds.
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