France's FRR names private equity consultant
FRANCE - The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund has named a consultant to help it choose private equity managers.
The fund said it has chosen Campbell Lutyens & Co. to serve as financial consultant on its forthcoming request for proposal to award several private equity management mandates. The move completes a selection process that began in March.
And it has retained the law firm Gide Loyrette Nouel for counsel and assistance in the drafting of the various written materials and legal instruments related to the selection process.
It added it plans to launch the first stage of the manager selection process in the third quarter of this year.
Last month the scheme said it made a return of 9.46% on the assets it had with asset managers in 2004.