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German fund tenders real estate via IPE-Quest

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GERMANY – A German pension fund is looking for a real estate manager via IPE-Quest.

The search for a manager is being conducted by investment consultant Kottman Advisory on behalf of a German pension fund client.

A tender has been put on IPE-Quest’s website for a 100 million-euro pan-European real estate/property brief.

The mandate is to be managed on an active basis, in a segregated vehicle. The benchmark cited is the CGEI BMI Europe Property (RI).

Return target is given as 200 basis points above the index, with a maximum tracking error of 750 basis points. Managers must show special experience in this area with a track record of at least three years.

The closing date for applications is November 26 2003.

Further details of the mandate, including how to apply, can be found on www.ipe-quest.com, where there are currently seven live mandates – two of which close today.

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