EUROPE – A pension fund based in continental Europe has tendered a $175m (€135m) pan-Europe fixed income mandate, using IPE-Quest.
In search QN1293, the industry wide scheme said it was looking for an asset manager with significant experience in the leveraged loans/senior bank loans sector, either managed in a fund or separate mandate.
The scheme added that it "strongly" preferred European loans, but said it would consider applications from managers who mainly focus on US loans.
The asset manager should employ an active management approach and will follow the Credit Suisse Western European Leverage Loan Index as benchmark.
The pension scheme does not prefer one particular investment style, but asks that only companies with at least three years' experience and $1bn in similar strategies apply.
Asset managers will also need to present tracking error guidelines of 1% minimum and 3% maximum.
The search added that they key words for selection were excellent risk management, an experienced team and a good track record.
Interested parties should state performance, net of fees, to the end of December 2012.
The closing date for applications is 24 April.
The IPE.com news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email email@example.com.