Westscheme has invested $10 million in the Quadrant Private Equity Fund No 2 and US$17.5 million in an Enhanced Emerging Markets Series from BlackRock Quantitative Partners.
"GMO was originally the manager which managed our emerging markets mandates. They have, however, closed their fund to new money and so we decided to invest with BlackRock," Westscheme chief executive Howard Rosario said.
Westscheme also terminated its mandate with the Marvin and Palmer Emerging Markets Share Trust.
The money was invested in BlackRock's emerging markets mandate.
