AI market round up: UK’s universities turn alternative

The Universities Superannuation Scheme, with more than £23 billion in assets, is increasing its allocation to alternatives from 10% to 20% over the medium term. At present the fund’s alternatives portfolio primarily makes private equity and infrastructure investments but hedge funds will be a focus of the increased allocation. Emil Porter of Key Asset Management has been hired to head the initiative. Mike Powell, who heads alternative assets at USS, says there are more hires to come.