GERMANY – A German consultant has tendered an initial 75 million euros in global high-yield debt for a German pension fund via IPE-Quest.
The brief is a segregated advisory mandate (Master-Spezialfonds) under German investment law for a German institutional investor.
The client has no specific minimums for assets under management or length of track record.
The benchmark is still open for discussion with the manager – although the client is considering Merrill Lynch Global High Yield Index.
Managers must have the capability to hedge the portfolio into euros but submissions to this request for information should reflect the actual performance of their underlying product.
While the mandate is for actively managed global high-yield debt, managers who are focused on US high yield only are also invited to submit a response to this request for information.
The closing date is May 21.