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UN fund eyes hedge funds, private equity

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GLOBAL - The $30bn (€22.1bn) United Nations Joint Staff Pension Fund (UNJSPF) says it has approval to incorporate hedge fund of funds and private equity into its portfolio.

The move marks a shift from the traditional equity and debt investment strategy at the scheme, the retirement fund for UN staff and other international intergovernmental organisations. The size of any investment in alternatives was not immediately clear.

In a 'request for an expression of interest' on the UN's procurement web site it said that the representative of the Secretary General has "approved incorporating hedge fund of funds and private equity into the portfolio". It would also be able to expand the scope of its real estate portfolio to include infrastructure, agricultural land and timberland.

"The fund now seeks experienced consultants for the analysis, selection, placement and monitoring of hedge fund of funds and private equity placements," it added.

The fund has also advertised for new senior investment officers for alternative investments and fixed income.

The fund also wants to diversify its custodial arrangements from one single global custodian to a single master record keeper, which should undertake the functions of all reporting and record keeping alongside multiple regional custodians to be contracted separately.

 

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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