Searches and Hires

Italian railways pension fund launches private debt search

Fondo Pensione Eurofer, Rome, is searching for one or more alternative investment managers to run a €25 million ($29 million) allocation to private debt.

The national pension fund for workers of state railways seeks managers that provide closed-end funds, which invests in unlisted infrastructure and real estate debt across the European Union or European Economic Area countries. Investments in Italy will be favored.

The €1 billion pension fund permits investments in loans that are structured as a medium-term investment and are not traded through the syndicated loan market or the secondary market. The selected manager is expected to deliver a net return between 5% and 8%.

Eligible firms must have an Alternative Investment Fund Managers license, at least €250 million in assets under management and a registered office in the European Union.

Consultant bfinance is assisting with the search. Proposals are due at noon on Oct. 15. via bfinance's platform.

For additional information, managers can email Niels Bodenheim, senior director of private markets at bfinance.