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AP7 shortlists six advisors for alternatives brief

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SWEDEN - The e2.3bn AP7 fund has whittled down its search for an advisor to an approximately e180m tender for hedge fund and private equity exposure to a shortlist of six consultants, with a public decision expected in the next few days.

Talking to IPE-Newsline, Daniel Barr, chief analyst of the AP7 fund, said the fund was on the cusp of making the decision over the winning consultant to advise on what is being seen as a test exposure to hedge funds/private equity in Sweden.

“We are negotiating with one of the candidates and the decision will be made in the next few hours. I think we will probably have a public decision before the end of the week,” says Barr.

He notes that the role of the consultant will be twofold, looking at both implementation issues as well as assisting in the manager search by putting together the RFPs and carrying out due diligence and reporting with the fund.

Out of a long-list of 8 consultants, he says there are only six serious contenders; Watson Wyatt, William Mercer, Stockholm-based Wassum in conjunction with Hewitt Bacon & Woodrow, specialist UK private equity firm Campbell Lutyens and two specialist consultancy firms from the US.

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