The £5bn (€8.26bn) West Yorkshire Pension Fund has appointed Aberdeen Murray Johnstone Private Equity to manage a £15m segregated private equity fund.

Aberdeen Murray Johnstone's appointment came on the back of a private equity review by the scheme, and is part of the implementation of a new overall private equity strategy. The fund is increasing its allocation to private equity from 0.5% of assets to 2%. It will move assets out of cash to fund the private equity push.