Hermes Floats $550M FoHF Strategy

Hermes BPK Partners, the $2.1billion fund-of-hedge-funds manager, has rolled out an equity long-short hedge-fund-of-funds strategy worth $550 million.

Hermes BPK Partners, the $2.1billion fund-of-hedge-funds (FoHF) manager, has rolled out an equity long-short hedge-fund-of-funds strategy worth $550 million, Pensions & Investments reports. An unidentified European institutional investor seeded the fund.

The company is looking to customize the strategy, which intends to capture two-thirds of the upside of global equity market returns while limiting losses to one-third. The strategy will replace bonds as a de-risking tool for pension funds and other institutional investors. Hermes BPK is a boutique within Hermes Fund Managers, of which the £36.7 billion BT Pension Scheme, London, is owner.

Click here for the story from Pensions & Investments.

Click here for additional coverage from HFMWeek.