SWITZERLAND - A Swiss pension fund is tendering a $400m (€293m) long-short-equity fund of hedge funds mandate, using IPE-Quest.

The consultant which placed the search (QN842) for the fund said the ticket size of the 80% core investments, in America, Europe and Asia-Pacific, is between $40m and $80m.

The ticket size for satellite investments (the remaining 20% of the mandate), is between $15m and $25m.

The scheme wants a strategy of at least 70% long-short-equity, and request an audited live track record for the core portfolio of at least 24 months and 12 months on the satellites.

The consultant added the size of fund for core should be at least $200m in each fund the manager would pitch for in the regions America, Europe, Asia-Pacific and worldwide while the size of the fund for satellites should be at least $160m.