A Scandinavian institutional investor has tendered a $100m-$200m (€81m-€162m) US equity mandate via IPE Quest.

In the long-term the mandate would be for $400m, according to search QN-2420.

The investor wants to invest via a UCITS fund, and has specified that the fund manager should be a signatory to the Principles for Responsible Investment.

Its investment team should integrate environmental, social and governance (ESG) considerations in the investment process by doing “thorough ESG analysis on all holdings pre-investment”.

The successful organisation should also vote shares and engage with management “to create positive change in terms of ESG”, it said.

The investor has indicated it wants an “all-cap blend/core” strategy, or with a slight growth or value tilt.

Investing should be “active, fundamentally-driven, bottom-up”. It has specified two indices, the Russell 3000 and the S&P 500.

It has capped the tracking error at 6% and said the minimum tracking error should be 2%.

Applicants should have at least $1bn of assets as a firm, and $200m for US equities. They should have a track record of at least six months in the strategy, although at least three years is preferred.

Interested parties have until 19 March to apply, and should state performance to 31 December 2017, gross of fees. 

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