A Swiss institutional investor is using IPE Quest to search for managers for two separate investments – infrastructure equity fund of funds and hard currency debt – worth a combined $1bn (€825m).
According to search QN-2664, the global active brief will adopt a core/core+ investment style and will be worth $500m.
The investor is also expecting limited exposure to greenfield and outside of OECD countries. It is seeking diversification over managers and co-investments and secondary funds will be allowed.
The search also stated that investments should be complaint with the new Swiss BVV 2 Infrastructure quota.
In addition, the investor is looking for a closed-end mandate solution eligible for Swiss pension foundations.
Participating managers should supply gross of fees performance data as of 31 December 2020 and are required to hold a minimum $1bn of total assets under management (AUM) for this particular asset class, the document noted.
Interested managers should also have a three-year minimum track record, but five years are preferred, it said.
The deadline to participate in this search is 5pm UK time 26 February.
The second investment, according to notice QN-2663, the investor is seeking to invest in active emerging market hard currency debt, following the JEMB Hard Currency Credit 50-50 index.
For this mandate, which is also worth $500m, the investor is looking for a manager with a proven track record against the hard currency and hard currency investment grade benchmark.
According to the search, no leverage or derivatives – including FX derivatives – will be allowed. Off-benchmark positions will be restricted and an extended ESG exclusion list will be applied.
The search also stated that the use of high yield will be limited to some extent and the mandate will be a segregated account for Swiss pension foundations.
A track record of at least five years is required, along with an AUM of at least $3bn for the asset class and $10bn overall.
The deadline to participate in this search has been set for 5pm UK time 5 March.
Manco issues RFI for transfer agency, registrar services
A management company (Manco) has issued an request for information (RFI) via IPE Quest QN-2657 inviting solution providers to submit a proposal to provide transfer agency and registrar services.
The Manco will review proposals at its discretion against a set of pre-defined criteria and will rate each proposal on its ability to satisfy the requirements stated in the RFI.
The successful respondents, if any, will be provisionally appointed subject to successful contract negotiations, due diligence taking into consideration technical expertise, financial strength, management, and company structure, the document said.
The RFI must be submitted with the necessary supporting detail and must at least provide all the information requested, it added.
The closing date to participate is 5pm UK time 26 February.
The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation 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 jayna.vishram@ipe-quest.com.
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