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Swiss scheme tenders unlisted real estate mandate using IPE Quest

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An undisclosed pension fund based in Switzerland has tendered a $100m (€94.5m) developed-market, unlisted real estate mandate using IPE Quest.

According to search QN-2139, the main part of the strategy should be core, with a satellite in non-core.

Leverage should be set at 20% on average – and reach no more than 33% – for the core part of the mandate.

Geographical allocation should be approximately 40% US and Canada, 40% Europe excluding Switzerland and 20% Asia Pacific.

The mandate calls for mixed sector allocation, no blind pools and more open-ended structures than closed-end ones.

The client said it would also prefer a segregated fund, but added that it would accept a pooled fund if it could be turned into a segregated fund in future.

Interested parties should state performance, gross of fees, to the end of September.

The deadline for applications is 11 December.

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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