Publica, the CHF36bn (€30bn) Swiss federal pension fund, has tendered a CHF300m infrastructure private debt mandate using IPE-Quest.
According to search QN1470, the pension fund is looking for senior secured infrastructure debt excluding mezzanine and equity.
Debt should related to private projects in OECD countries, the fund said, and ideally provided within a segregated mandate.
Asset managers should focus on brownfield projects only using a long-only, active management style.
Interested parties should have a minimum of CHF1.5bn invested in private infrastructure debt and a total AUM of CHF20bn.
Organisations must be highly transparent and have a proven track record and commitment to infrastructure debt.
They should also have a strong standing in markets and a comprehensive investment and risk-management process.
The closing date for submissions is 4 December, with performance data supplied, gross of fees, until the end of September.
In June, Stefan Beiner, deputy director of the fund, said he had plans to sell off equities over concerns that peak returns had been seen.
He said as an alternative Publica would look to invest in private infrastructure debt and direct lending, although not entirely in Switzerland.
However, at the time, he said the fund had not fully assessed risk/return trade-offs and that the asset classes were still under assessment.
The fund also announced it was switching to passive and smart-beta mandates for almost all of its asset class investments.
It said it would exclude insurance-linked bonds and infrastructure private debt from this switch, as these remained an area for active managers, due to the lack of indices.
For any questions regarding this search, please email info@ipe-quest.com. Questions will not be accepted after 1 December. For full information, please go to http://www.ipe-quest.com/search.htm.
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