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European pension fund tenders $300m GEM bond mandate

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An undisclosed European pension fund has tendered a $300m (€280m) global emerging market bond mandate using IPE Quest.

The client is open to splitting the mandate in two, for $150m each.

According to search QN-2144, the tender calls for an active investment process.

Performance should be measured against a benchmark composed of JP Morgan’s diversified global emerging market sovereign index (60%) and its corporate bond index (40%).

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The client expects a maximum tracking error of 5%.

Applicants should have a track record of at least five years and at least $5bn in assets under management, $2bn of which should be in bonds.

Experience with managed or segregated accounts is essential, according to the mandate.

The client is only seeking investments in “hard currency”, adding that no local currency exposure is “desired at this point in time”.

Interested parties should state performance, gross of fees, to 31 December.

Applications should distinguish between the asset management company’s process for emerging market government bonds and emerging market corporate bonds.

Eight to 12 portfolio managers are likely to be long-listed.

Conference calls with these candidates will probably take place the week of 29 February, with on-site due diligence provisionally targeted for the week of 25 April.

The deadline for applications is 18 January. 

The IPE news team is unable to answer any further questions about IPE Quest 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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  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

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