France’s public-sector supplementary pension scheme ERAFP has awarded nine mandates covering private equity and infrastructure, with a target allocation of €1.6bn over the mandates’ duration.
The mandates follow a tender launched in March 2025 as part of ERAFP’s strategy to diversify its portfolio.
The pension scheme said in a statement that the investments are intended to support long-term performance and its ability to meet its commitments, while complying with its responsible investment requirements and climate commitments.
The allocation is divided across four mandates.
The first, covering European private equity, has an indicative target allocation of €700m. Access Capital Partners and Ardian were selected as active managers, with Schroders appointed as standby manager.
The second mandate covers North American private equity and has a target allocation of €300m. Schroders was selected as the active manager, with Ardian as standby manager.
The third, covering infrastructure in the OECD, has a target allocation of €400m. Amundi was selected for the active mandate and BlackRock as standby manager.
The fourth mandate focuses on infrastructure supporting the ecological transition in Europe and globally, with an indicative target allocation of €200m. Access Capital Partners was selected as the active manager, while SWEN Capital Partners was appointed as standby manager.
ERAFP said the investments in private equity and infrastructure would also contribute to financing the real economy.
Managers appointed on a standby basis can be activated by ERAFP as its investment needs evolve and to further diversify its portfolio, the fund added.
The mandates are part of ERAFP’s longer-term diversification strategy, according to the pension scheme.
