The Australian Catholic Superannuation & Retirement Fund has invested $100 million in international equity and terminated a $150 million mandate with Alliance Bernstein.
The Australian Catholic Superannuation & Retirement Fund (ACSRF) has added two global private equity managers and terminated a mandate with Alliance Bernstein.
The fund has invested $50 million each in Lexington Partners and the Partners Group. The mandates were funded through existing cash flows.
"We felt that the market cycle was right to increase our exposure to alternative assets. We also wanted to ensure that our portfolio was well diversified," ACSRF chief executive Greg Cantor said.
The fund has also terminated a $130 million mandate with the Alliance International Equity Growth Fund, investing the proceeds with the Lazard International Thematic Fund.
The termination of the international equities large cap mandate was a result of the continued underperformance of the Alliance fund, according to Cantor.
The institutions that collectively control more than $40 billion of Australian investment dollars are viewing 2010 as a year to tread carefully.... Watch»
