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Swiss pension fund eyes real estate

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IPE-QUEST - A Swiss corporate pension fund is looking for a manager with experience of investing in the real estate markets to take care of a $70m (€52m) pan-European real estate fund-of-funds mandate, using IPE-Quest.

Details of QN1013 state the fund is looking for target returns of 12-18% over the chosen benchmark, and interested parties must have a minimum AuM of $250m for the fund-of-funds mandate.

More specifically, the Quest says the pension fund is looking a "fund-of-funds in non-listed real estate that can exploit the current market conditions, either through new investments or purchases of existing structures at distressed prices" so the pension fund would prefer to appoint a manager with experience of non-listed funds.

Performance data must be presented net of fees to 31 March 2009 and the preferred minimum track record is five years.

Closing date for submissions is 17 April 2009.

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