An unnamed Swiss pension fund has tendered a $150m (€134m) direct lending mandate via IPE Quest.
According to search QN-2598, the pension fund is searching for a single manager solution “with the idea of building up a strong and long-term partnership”.
Managers should have a track record of at least 13 years in US direct lending, with $500m in assets under management for the asset class and $3bn as a firm.
Within direct lending, the focus should be on companies in the lower to middle market. The pension fund also said the focus should be on “corporates, senior debt, first lien, unlevered, US market, financial covenants”.
It would not consider offerings such as syndicated loans, high yield bonds, infrastructure or real estate debt, among other segments.
Applicants should already have at least one segregated account with a Swiss or other European client.
Performance data should be supplied net of fees to 31 January. The deadline to apply is 5pm UK time on March 9.
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.
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