IPE-Quest: Japan equity, infrastructure, and EM bonds
EUROPE - Three new searches have been filed on IPE-Quest. A German investment consultant is seeking to award a $100m (€76m) global infrastructure mandate (QN684). A European industry-wide pension fund is looking to award a $200m Equity Large Cap Core Japan mandate (QN685) and in QN 686, a continental European pension fund is seeking a manager for a global emerging markets government bond portfolio.
"There are no tight constraints regading the asset class. Required structure of investment: PPP (Public Private Partnership) / PFI (Private Finance Initiative)," the search states.
For the global infrastructure mandate (QN684) no particular benchmark or minimum requirements regarding AUM are given. The search closes on 15 January 2007.
The benchmark for the Equity Large Cap Core Japan mandate (QN685) is MSCI Japan or TOPIX.. The mandate should have a core or core-growth style. The minimum of AUM for the mandate and the firm is $800m. Performance data (to be stated to 31 December 2006) should be gross of fees.
The mandate will be awarded to an investment manager meeting as a minimum the following criteria: Experienced team; systematic core or core-growth style; traditional fundamental investment process with aim to add value through stock selection; ex-ante tracking error of 3%-7% and attention to benchmark relative risks.
A 5-year performance history of positive alpha is required. Performance has to be stated to 30 September 2006. Performance data should be supplied net of fees. The provider should be willing to accept performance based fees and high watermark.
The search closes on 17 January 2007
The benchmark for the global emerging markets government bond mandate (QN 686) is JPMorgan Euro EMBI Global Diversified Index. The minimum AUM requirement is € 250m for the mandate and €2bn for the firm. Minimum track record required is 3 years but the preferred minimum is five years. Performance data to 31 December 2006 in euro should be supplied gross.
The search closes on 19 January 2007.