GLOBAL – A foundation based in Asia is searching for managers to oversee two $100m (€75m) passive equity mandates, using IPE-Quest.
For search QN1270, the foundation said it was looking to appoint a manager to a $100m mandate investing in large-cap US equity.
The passively managed, growth-targeting portfolio would be benchmarked against the MSCI US index or "any other suitable growth indices", the search said.
Similarly, search QN1271 sees the foundation ask for managers to oversee a $100m large-cap US equity mandate.
However, the passive approach should in this case seek to ensure value rather than growth, again benchmarked against the MSCI US index.
Managers must be able to screen companies, allowing the foundation to exclude prohibited industries, as detailed in the request for proposal (RFP) available through IPE-Quest's website.
The investor further asks that the manager be able to provide a segregated account and already manage $1.5bn across similar strategies, with company-wide assets under management of $5bn.
Companies should preferably have a five-year track record in managing similar mandates, although the foundation would prefer a decade of experience for any company selected.
Interested parties have until 25 January to apply for both searches, stating performance, gross of fees, to the end of September last year for QN1270 and to the end of December for QN1271.
In other news, the Norwegian ministry of finance has selected the New Jersey-based Spaulding Group to monitor the performance of the NOK3.8trn (€529bn) Norwegian Pension Fund Global.
Spaulding successfully beat four other companies to the four-year contract, expiring at the end of September 2016, that will require it to verify the fund's performance as measured by Norges Bank Investment Management, the asset management division of the country's central bank.
The IPE.com news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email email@example.com.