Munich’s Bayerische Versorgungskammer (BVK)
could issue an RFP in the coming weeks, as it looks to increase
its holdings in funds of hedge funds, it is understood.
BVK, which with over $69 billion under management is the
largest public pension scheme in Germany, already has a number
of fund of hedge funds holdings, which total $3.7 billion, but
is looking to build this roster going forward.
The scheme has a master/feeder structure and provides
pensions for a number of liberal professions and
municipalities, many of which have their own varying return
targets. As such it tends to favour funds of funds that have
demonstrated an ability to meet their return target and provide
a stable returns profile.
The pension fund’s plans to add two or three
FoHFs to its current roster of roughly seven managers was
initially announced last year (InvestHedge, October 2013).