German fund tenders real estate via IPE-Quest
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.