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He declined to provide details of EPF's investment and EPF offered no response to requests to its Paris offices for comment.
"EPF Partners bought out the other two partners," Mr. Buttet said.
"EPF Lausanne, which offers courses in French, opens up access for students in half of Africa," Ms. Koller said.
"EPF's role was to help finance the company in hard times," Mr. Buttet said.
EPF estimates that this would cost institutions £6m a year and would result in job cuts, pay freezes and recruitment freezes.
If reforms aren't introduced, then institutions would need to increase their contributions by 9 percentage points to 25%, according to the Employers Pensions Forum (EPF), which represents UUK and the Universities and Colleges Employers Associationn on pension issues.
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Of the two basic types of pension scheme Employee Pension Funds (EPFs) and Tax-Qualified Pension Plans (TQPPs)—EPFs have made greater strides.
These specialist investment managers were first allowed to manage a relatively small portion of pension money in so-called Employee Pension Funds (EPFs) in 1990.
They are regulated by the health and welfare ministry (unlike TQPPs, which come under the finance ministry's aegis), which has gradually relaxed the rules.In 1990, investment advisers, a new category of managers offering a specialist service, were allowed to manage new contributions for EPFs.
Big funds that can convince the health-and-welfare ministry, which regulates EPFs, of their sophistication can now ask for an exemption.
From next April, though, EPFs will be required to value their assets at market price anyway.
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CEO of Professional Science Editing for Scientists @ prosciediting.com