Friday, 1 August 2014
Last updated 2 hours ago
Jul 7 2010 | 10:24am ET
A major Swedish public pension fund is looking for firms to manage up to US$1.5 billion in hedge fund portfolios.
Första AP-Fonden said in an official tender notice that it hoped to hire between one and three “strategic partners” to put in place its increased alternative investments allocation. The pension plans to put between US$1.1 billion and US$1.5 billion into the new hedge fund portfolios.
While AP1 said it would consider applicants “covering the full investible universe or a subset of the market” and that it had no “firm preference” in terms of legal structure, it did specify that interested parties should have a history of “proven and consistent” returns, Investments and Pensions Europe reports.
AP1 set an Aug. 29 deadline for applications.