SCANDINAVIA – A Scandinavian pension fund has tendered for a manager to invest up to $50m (€37.9m) globally or regionally in defaulted debt via IPE-QUEST.
The investment universe may cover: trade claims, bank debt, corporate debt and creditor claims.
The preferred vehicle is a pooled fund solution (for example, Dublin or Luxembourg). The style is passive or semi-active. The scheme is open to suggestions about benchmark.
The brief calls for a long-only strategy without any use of derivatives or gearing and at least three years of performance data.
The closing date is March 1.