France’s €36.3bn Fonds de Réserves pour les retraites (FRR) has awarded a contract for “best execution analysis” services and will in the coming weeks launch a tender for a mandate for direct private equity investments.

It awarded the contract for transaction control and measurement to Trade Analytics UK, formerly GSCS Information Services.

Three tenders were received for the contract. 

A spokeswoman told IPE the contract was up for renewal on expiry of its three-year term, with Trade Analytics having been the incumbent provider.

FRR has used best-execution analysis services from the outset, she said.

The reserve fund will in the coming weeks tender a mandate for direct private equity investment.

It is reviewing applications for a private equity fund of funds mandate, one of three requests for proposal that are open at the moment.

The others are for a €600m private corporate debt mandate and for ESG-optimised passive management.

The private debt and private equity fund of funds mandates are only for investments in France.

The fund intends to come to a decision on the mandates by the end of the year, the spokeswoman told IPE.

The tenders for private assets mandates are part of the implementation of FRR’s new allocation to illiquid assets.

[The article was amended to correct the figure for FRR’s assets under management, which was orginally stated as €46.4bn.] 

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