IRELAND – The Irish National Pensions Reserve Fund (NPRF) has finally unveiled details of the enormous tender process through which it will hire managers to invest approximately e6bn in assets.
The huge RFP, which combines an e2bn passive eurozone equity brief with a number of specialist active mandates, including an e700m global equities block and an e900m pan-European equities tranche, is one of the biggest of its kind in Europe and likely to generate a frenzy among asset managers for the business.
Significantly, the manager search will also be initially operated through electronic tender using a hybrid version of the IPE-Quest on-line manager search software at http://ntma.ipe-quest.com.
The full range of mandates is as follows:
Active global equities – e700m
Passive equity – e2bn
Active pan-European equities – e900m
Active US equities – e600m
Active Pacific Basin (ex Japan) equities – e90m
Active Japanese equity – e300m
Active Eurozone long bonds – e350m
Equity enhanced index, US – e350m
Passive equity, US – e625m