​LD Pensions seeks managers for new €160m impact mandate

Denmark’s LD Pensions has launched a tender process to find an investment manager for an active global equity mandate worth an estimated DKK1.2bn (€160m), to be run with an impact or sustainability investment strategy.

The tender document states that the mandate is focused on sustainable development, with its goals centred around fostering wellbeing and environmental restoration.

The new “Positive Pursuits” mandate will have a limited investment universe encompassing companies “with a purpose, product or service that match the Future-Fit Foundation Positive Pursuits”, LD Pensions said.

The foundation is a UK-based charity that aims to help investors have a positive impact on the environment and wellbeing.

Investments meet the charity’s criteria by creating positive impacts, by amplifying the positive impact of others, or by reducing negative impacts, according to the tender notice.

LD Pensions, which runs the fledgling Lønmodtagernes Feriemidler (Danish holiday allowances fund ) and the mature Lønmodtagernes Dyrtidsfond (legacy cost-of-living allowances fund), said the Positive Pursuits mandate was not a core global equity strategy with an ESG overlay.

The Danish pensions firm said the size of the mandate was indicative, due to its inability to determine the volume in advance. “The value of the contract is therefore LD Pensions’ best estimate based on the current assets,” it said.

The contract is to run for five years with two possible 12-month extensions. The deadline for the receipt of tenders and requests to participate is 19 July at 11pm.