Compenswiss, the public institution managing Switzerland’s first-pillar social security funds, has issued two tender notices via IPE Quest looking to appoint asset managers for direct lending mandates.

The first (search QN-2914) is for €100m investing in European active corporate senior direct lending, while the second (search QN-2915) is for €100m investing in the US.

Compenswiss is expanding its private debt investment programme, it disclosed, so the aim is to invest in several actively managed funds of private debt (direct lending) in Europe and the US, according to the notice.

The document also stated that the proposed funds must have no leverage, have a senior debt profile, and should not be ‘first time’ funds.

Participating managers have a minimum requirement of €500m of total assets under management for each asset class and €5bn overall. The deadline for both has been set for 30 September at 5pm UK time.

Swiss canton pension fund seeks EM debt manager

Aargauische Pensionskasse (APK), the public-sector pension fund of Canton Aargau with total assets under management of CHF12.5 bn (€13.2bn), is looking to appoint an asset manager for a $300m passive emerging market debt (hard currency) mandate.

The brief is to follow the J.P. Morgan EMBI Global Diversified Index and it will seek to invest in bonds issued by emerging sovereigns or emerging markets quasi sovereigns, the tender notice stated.

Participating managers have a minimum requirement of €5bn of total assets under management for the asset class and €50bn overall. The deadline has been set for 2 October at 5pm UK time.

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 further information contact IPE Quest directly.

Italian journalists scheme awards €100m corporate bond mandate

The Italian Journalists’ Supplementary Pension Fund — Fondo Pensione Complementare dei Giornalisti Italiani — has awarded a €100m global investment grade corporate bond mandate to Payden & Rygel, the independent management company with more than $156bn under management.

The appointment followed a tender process initiated in March 2024, it was announced.

“It is a great honour for us to have been selected by the Giornalisti fund, and to be able to contribute to the segment with an investment solution designed specifically for the fund and its members,” said Antonella Manganelli, chief executive officer of Payden Global SIM SpA.

She added that Payden & Rygel now manages 11 institutional mandates for Italian institutional clients.

Joan Payden, founder and CEO of Payden & Rygel, added that Payden will be able to “offer broad diversification and exposure to global credit markets, with a focus on liquidity dynamics, risk management, ESG criteria and, in line with Payden & Rygel’s philosophy, capital preservation”.

The latest digital edition of IPE’s magazine is now available

Topics