IPE-QUEST – An undisclosed institutional investor based in Europe has tendered a $120m (€90m) US small-cap equity mandate using IPE-Quest.

According to search QN1323, the investor is looking to use a separate account.

Fund managers should have at least $500m is assets under management (AUM) for the mandate itself and $2bn in AUM for the company.

They must also have a minimum track record of five years, although 10 would be preferable.

Tracking-error guidelines are to be confirmed at a later date.

Interested parties should state performance, gross of fees, to the end of June.

The closing date for applications is 15 August.

Meanwhile, another European institutional investor has tendered a $75m-100m global, unlisted, core infrastructure mandate, also using IPE-Quest.

According to search QN1320, the investor is targeting an "attractive investment solution that offers diversification as well as an appropriate fee level".

The closing date for applications is 23 August.

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 jayna.vishram@ipe-quest.com.