EUROPE – The consultancy Kirstein, using IPE-Quest, has tendered a European high-yield bond portfolio on behalf of a Nordic institutional investor.

In search QN1309, Kirstein said the total size of the mandate would be in the range of €140m, with potential for further increases.

Asset managers will be required to invest in European high-yield issues, including UK, using long-only products.

Applicants will be allowed to employ an opportunistic strategy and make off-benchmark investments, including distressed debt, loans and investment grade.

The use of derivatives will be allowed.

Kirstein said asset managers would have to outperform the BofA Merrill Lynch European Currency Constrained index, or similar indices, irrespective of the style in the market.

The consultancy said it would provide its client with a short list based on its own quantitative and qualitative analysis of the applicants.

Interested parties have until 18 July to respond to the request for information, stating performance to the end of June.

The 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