AP7 starts phase two of alternatives RFP

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SWEDEN - The e2.3bn AP7 fund has received proposals from 135 managers for tenders worth around e180m in hedge fund and private equity assets and will today (December 4) begin sending out the second phase questionnaire for the RFP process to all the managers.

Richard Grottheim at AP7 told IPE-Newsline that of the 135 hedge fund and venture fund-of-fund managers only a handful were Swedish, with the majority hailing from the US.

Firms have until January 2, 2002 to respond to the questionnaire, at which time AP7 will begin sifting through the responses with its newly appointed specialist consultant from the US, New England Pension Consultants (NEPC).

The fund is looking for a hedge fund-of-funds provider with a balanced multi-strategy approach. For private equity, the fund has only stipulated that the approach should be global and include both venture and buy-out.
AP7 says it is not looking for undue risk from the alternative investment exposure and the asset allocation rebalancing will give four percent in hedge funds and four per cent in private equity.

A final decision on the selection of managers for the fund is expected by the fund’s board meeting on February 12, 2002.

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