mast image

Impact Investing

IPE special report May 2018

Sections

AP2 seeks global credit managers

Related images

  • AP2 seeks global credit managers

SWEDEN - Andra AP-fonden (AP2), the Second Swedish National Pension Fund, is seeking external global credit bond managers for mandates valued at up to $600m (€418m).

AP2 revealed in its first-half figures earlier this week that it had increased its allocation to corporate credit bonds from 3% to 10%, with the increased allocation including both traditional corporate bonds and convertibles.

At the end of June, the strategic allocation of the fund was 40% in fixed interest assets, 52% in equities and the remainder in real estate and private equity. (See earlier IPE article: AP2 generates 6.4% gain)

However, the pension buffer fund has issued a tender notice seeking a provider of external asset management services relating to global credit bonds, as Eva Halvarsson, chief executive of AP2, said the fund believed it could get good returns from further investment in international corporate bonds following the effects of the credit crunch.

The tender is for the discretionary asset management of "several global credit portfolios" with an estimated value of between $300-600m each.

Although the exact number of mandates is unclear the document revealed AP2 expects the number of participants in the tender process to range from five to 15, with this figure being reduced during the negotiation and competitive dialogue phase. 

The closing date for tender submissions is 21 September 2009 and further information including the conditions of participation can be obtained by emailing globalcredit2009@ap2.se

If you have any comments you would like to add to this or any other story, contact Nyree Stewart on + 44 (0)20 7261 4618 or email nyree.stewart@ipe.com

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

  • RE-2441

    Closing date: 2018-05-31.

Begin Your Search Here