UK – A UK foundation has tendered $150m (€123m) in global long/short equities via IPE-Quest.
The search (QN569) is for a global (developed and emerging) markets long short equity strategy managed on a quantitative basis.
The client is looking for a strategy with a beta of +1% and with a significant performance target of around +5%.
They accept that many managers with this type of product do not yet have long track records or significant assets under management, so are flexible in these areas.
The closing date is February 7.