The €10.1bn ($12.45bn) Irish National Pension Reserve Fund has awarded Arcadian Asset Management, a Boston-based manager, a €100m small cap Europe, Asia and Far East equity mandate. The fund has allocated 2% of its portfolio to small cap equity and had previously appointed UBS Asset Management for a €100m US small cap active equity mandate. A decision by the fund to invest to invest in alternative assets such as private equity and hedge funds is to be taken within the next month.

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