AP Fonden 1, Stockholm, issued RFPs for at least one manager each to run a global listed real estate portfolio and a North American REITs strategy, according to an announcement on the 201.8 billion Swedish krona ($24.7 billion) fund’s website.
Both mandates will total a combined $200 million to $300 million.
“The mandates are components of a broader international real estate strategy that AP1 is about to initiate,” according to the announcement. AP1’s strategy is to initially fund external global property securities managers and, at a later date, shift at least a portion of the assets into a North American REITs strategy.
Fund officials are looking to invest in “100% net long strategies,” according to the announcement. “However, shorting to some extent, such as 130/30 and similar strategies” may be considered. Proposals are due Jan. 26. Neither spokeswoman Nadine Viel Lamare nor Rikard Kjorling, head of external management, could be reached by press time.
Further information can be obtained from the fund's website.
