Fonds de Reserve pour les Retraites, Paris, is searching for money managers to run its €5 billion ($5.3 billion) cash flow-matching portfolio, said Alexandre Van Ooteghem, legal counsel at the pension fund.
The €37.2 billion pension fund will hire no more than three managers to run the portfolio, which is invested mainly in investment-grade sovereign French bonds and Treasury bills.
The contracts will run for six years, with the possibility of a one-year extension.
He added it is too early to say when executives will make a decision. Proposals are due March 28.
The RFP is available on FRR’s website.