The Universities Superannuation Scheme, the UK's second largest pension fund, has boosted its inhouse team to help grow its allocation directly into hedge funds over the next two years.

The pension fund, which provides pensions for educational institutions across the UK, has appointed Luke Dixon, previously head of hedge fund due diligence at JP Morgan, as a portfolio manager for its hedge fund unit. Dixon, who began yesterday, will be joined by two analysts, yet to be hired.