Petercam buys controlling stake in Concerto Capital

Asset manager Petercam Group has acquired a controlling stake in London and New York-based fund of hedge fund adviser Concerto Capital. The group hopes the link will enable it to expand further into advising pension funds on hedge fund allocations.Jean-François Buisseret, Concerto Capital chairman, said hedge fund operators and advisers needed to be advising on or managing at least £500m to qualify for pension funds' beauty parades.Concerto presently advises on about $150m of fund of hedge