SEARCHES AND HIRES

Norfolk Pension Fund, 5 other local plans launch transition management search

Norfolk Pension Fund, Norwich, England, and five other local government pension funds are searching for transition managers, according to a notice on the pension fund’s website.

The £3 billion ($3.8 billion) pension fund, together with the £1.7 billion Bedford Borough Council Pension Fund; £2.7 billion Environment Agency Pension Fund, Bristol; £1.9 billion Dyfed Pension Fund, Carmarthen; £3.6 billion Derbyshire County Council Pension Fund, Matlock; and the £5 billion London Pensions Collective Investment Vehicle will hire up to three managers for a period of four years. The pension funds will have access to the managers through a framework agreement.

The managers will provide transition management services and associated implementation and advisory services.

The search notice is available on Norfolk’s website.

Proposals are due by noon British Summer Time July 3. A hiring date was not provided.

A spokesman could not be immediately reached.