UK - Phil Irvine, a former director of advisory services at research and advisory firm Liability Solutions, has launched a new investment consulting business together with former colleague Nicola Ralston.

The new consultancy, named PiRho, will focus on giving investments advice to institutions on absolute return and hedge fund investments, after Liability Soclutions decided to focus on its fund placement activities.

"A key part of the business will continue to be in conducting searches for fund-of-hedge-funds on behalf of pension schemes, insurances companies and other institutional investors," according to PiRho.

Irvine told IPE today PiRho is an independent company that will continue to build on the achievements the team made within Liability Solutions' advisory business, and added all clients in that space have been transferred to PiRho.

Accroding to Ralston, the new consultancy firm will be looking to advise institutions with existing hedge fund investments which may be causing them concern in the current economic climate.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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