East Sussex County Council Pension Fund, Lewes, England, is searching for at least three managers to run a total of up to £850 million ($1.4 billion).
The £1.5 billion fund is looking for one or two active global equities managers to run £200 million to £300 million each and outperform the MSCI All Country World index by 200 to 400 basis points.
The fund also seeks a “traditional multiasset absolute-return” manager to run about £150 million with a performance target of the three-month LIBOR plus at least 300 bps over rolling three- to five-year periods, and a manager to run up to £100 million in a “segregated U.K. multimanager property” mandate, according to separate postings on Tenders Electronic Daily.
Further information was not available. John Shepherd, pension fund accountant, referred questions to Hymans Robertson, the fund’s investment consultant that is assisting in the searches. David O’Hara, a consultant a Hymans Robertson, declined to comment.
Responses to the global equities and absolute return searches are due Aug. 24, while responses for the real estate search are due Sept. 8. Further information is available by sending an e-mail to [email protected]