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Pension fund seeks $50m CLO manager via IPE Quest

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A European pension fund is seeking a global manager for a $50m (€42m) collateralised loan obligation (CLO) mandate via IPE Quest.

According to search QN-2435, the pension fund is looking for an active, opportunistic long-only manager, although it added “some opportunistic shorts could be allowed”.

Providers pitching for the mandate must have at least $500m under management in CLOs, with the overall AUM for the company set at the same amount.

The benchmark has yet to be decided, and there are no minimum or maximum levels for the tracking error that has been set for this mandate.

The pension fund expects prospective managers to have a track record of at least five years, but states 10 years is more preferable. The mandate should cover all tranches of CLOs, including senior tranches as well as equity.

“The risk of the mandate can be adjusted according to market return/risk opportunities,” the pension fund stated in its IPE Quest submission. 

The deadline for bids is 22 May 2018 at 5pm UK time.

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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  • QN-2474

    Asset class: All/Large Cap Equities.
    Asset region: Global Developed Markets.
    Size: $150m.
    Closing date: 2018-09-25.

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