UK - Warwickshire County Council has tendered for up to £100m (€148m) in real estate and fund of hedge funds for the £1bn Warwickshire Pension Fund.

The fund, which just a few years went through a major shift towards specialist managers, has put out two separate tenders covering fund of hedge funds and property.

The move is the scheme's first foray into the alternatives arena, with the search being assisted by scheme advisor Mercer.

The fund, which was 82% funded as at March 2004, will award the mandates to the most economically advantageous tender.

The deadline for expressions of interest is October 30, with the deadline for tenders is November 6.

It also emerged that Hughie Todner has retired as chairman of the Pension Fund Investment board, succeeded by Councillor Chris Davis.