Pension investment services

Tender description

The Pension Fund of the City and Council of Swansea invites proposals for the management of an investment in unlisted infrastructure equity through a pooled fund vehicle. The Pension Fund of the City and Council of Swansea does not wish to be contacted during the tender process. Please contact bfinance for any queries regarding the tender. Preference for an absolute return/IRR of 7-10 %+ p.a., with a cash yield of 4 %+ (net of all fees) Type of management: — Active. — Core+/Value-add (also open to Core, not open to Opportunistic). Allocation: — Preference for Brownfield/Operational assets. — Open to some Greenfield exposure but this should not make up the majority of the Fund (max. 50 %). — Unlisted equity focused strategies. Portfolio Diversification: — Broadly Diversified exposure expected in terms of assets. Portfolio Term and Duration: — Long term illiquid exposure is expected, any liquidity windows would also be considered. Geographical Exposure: — Preferably OECD-focused, with maximum non-OECD exposure of 20 %. — Emerging Markets exposure acceptable within global strategies but should be less than 20 %. Other Criteria — Regulated entity. — Some realized assets in the track record are preferred. — Fund should be a minimum size of 400 000 000 GBP. — Minimum 750 000 000 GBP AUM in asset class.