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Danish pension fund tenders $30m equities mandate using IPE-Quest

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Kirstein has tendered a $30m (€22m) global equities mandate, on behalf of a Danish pension fund, using IPE-Quest.

According to search QN1358, the target is to outperform the MSCI World, MSCI AC World or similar index – irrespective of the style in the market – through a fundamental stock-selection process.

The preferred vehicle structure will be a UCITS fund.

All types of investment style – core, growth, value, quality or GARP, for example – will be accepted.

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Kirstein said the investor would consider only long-only products, while 130/30 products or similar products will not be accepted.

All large-cap portfolios – i.e. pure mid or small-cap products – are of no interest to the investor, although portfolios with small allocations to small caps are acceptable.

Leveraged products will not be accepted.

The investor seeks a manager with a proven track record of at least three years.

Kirstein placed the ”anticipated excess performance” at a minimum 2% per annum, with a “suitable” tracking error.

It added that mandate size was initially expected to be in the range of $30m, with potential for “significant increases in the coming years”.

The closing date for applications is 19 December.

In a separate IPE-Quest search, QN1359, Grontmij Capital Consultants is conducting a pre-selection of non-listed European infrastructure investment opportunities, on behalf of a Dutch pension fund.

The size of the envisaged investments will be approximately €10m-15m.

The preferred strategies are core or value added.

Grontmij said: “At this stage, we would like to ask you to provide us with an update on your existing European infrastructure investment opportunities that are accessible for our client. After this stage, the process will be followed by a preliminary assessment that will be based on a survey.”

The closing date for this search is 11 December.

For more information on both tenders, please click here.

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IPE QUEST

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

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