DENMARK - Kirstein Finans has initiated a search for a global high-yield fixed income manager on behalf of two Danish pension funds via IPE-Quest.

The search (QN677) states the mandate size is $100-150m and could "potentially increase sharply". There's no preferred benchmark. The closing date is November 27.

The guidelines for the mandate are:

o    There is a preference for Global products, however pure US products will initially be accepted
o    The universe is corporate bonds within the high yield range (i.e. max BB+, no lower rating limitation)
o    Bank loans / senior loans can be included in the universe
o    Use of financial instruments such as credit derivatives, options, futures etc. is allowed
o    Limited investments in Emerging markets debt are allowed

Leverage is not allowed.