Santander 'follows the money' with hedge fund strategy switch

The bank's £8 billion UK pension fund shifts from investing in hedge funds to investing in the companies that manage them

The £8 billion UK pension fund for the bank Santander has joined the select group of pension funds looking to profit from hedge fund fees, instead of paying them out.

The Santander UK Group Pension Scheme has made a $100 million commitment to Dyal Capital Partners, a Neuberger Berman-owned fund founded in 2010, whose strategy is to buy minority stakes in hedge funds.

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