USS strengthens alternatives team
UK - The £30bn (€44.2bn) Universities Superannuation Scheme has hired from Railpen Investments (RPMI) and private equity firm Klesch & Company Limited.
Fraser Booth is joining USS from RPMI as portfolio manager focusing on private equity and infrastructure fund selection. Prior to joining RPMI in 2005, Fraser had been an investment analyst at Mellon.
At the same time, Geoffrey Geiger joins from London-based Klesch & Company where he has worked since 2001. He was primarily engaged at Klesch in identifying, analysing and sourcing investment opportunities across Continental Europe.
Both Geiger and Booth joined USS' private equity & infrastructure team, reporting to Mike Powell, head of alternative assets. Geiger was appointed as due diligence analyst focussing on managing co-investment transactions.
"This is just the start of our on-going commitment to alternative assets," Peter Moon, chief investment officer of USS commented.
USS has committed to a target allocation of 5% to alternatives by March 2008, rising to 20% over the medium-term.
Since launching its alternative asset programme in 2006, USS has made over £1.5bn in commitments to private equity and infrastructure funds.