Publica, the Swiss federal pension fund, has tendered a CHF150m (€125m), corporate credit private placement mandate using IPE-Quest.

Under search QN1471, the CHF36bn pension fund said it was looking for senior secured private placements of investment-grade rating.

Placements should be made exclusively in OECD countries, the fund said, and ideally provided on a segregated account basis.

Publica said the mandate formed part of its change in investment strategy that included a shift towards private placements and private infrastructure debt.

The mandate calls for a long-only, active management investment style.

Asset managers should have a minimum of CHF1.5bn invested in private placements and a total AUM of CHF20bn to qualify.

They should also be highly transparent and have a proven track record to private placement management.

Managers should also have a strong standing in private placement markets and a comprehensive risk management process.

Closing date applications is 4 December, with performance data supplied, gross of fees, until the end of September.

In other news, the Newham Local Government Pension Scheme has begun the search for a real estate property adviser to manage its £87m (€108.5m) real estate portfolio.

The pension fund requires the adviser to review its portfolio and increase or decrease exposure as directed.

The adviser should also consult the scheme on operational matters, and monitor the scheme’s portfolio.

It should also be able to advise on additional allocations to its UK real estate assets and establish investment opportunities.

The contract would run for three years.

Managers should provide details on staff numbers over the last three years alongside details of educational and technical capabilities at the company.