Northamptonshire County Council Local Government Pension Scheme, Northampton, England, is searching for a passive global equities manager to run £130 million ($213 million) and a specialist bond manager to run £50 million, according to Tenders Electronic Daily.
The £856 million scheme is also considering boosting alternatives, according to meeting minutes on the council’s website, but no specific figures were given.
Funding for the equities mandate comes from terminating Martin Currie from a similarly sized active U.K. equities portfolio, according to the minutes.
The bond mandate will be funded by terminating Partners Group from a hedge fund mandate of similar size, according to the minutes. No information was available on the type of bond strategy sought. The new manager’s mandate could be increased over time to as much as £170 million, the fund’s entire bond allocation, according to Tenders.
Requests for further information were referred to spokesmen at fund investment consultant Mercer, who did not respond by press time.
Responses for both mandates are due Sept. 14. Further information is available by registering interest in the searches at https://ncc.bravosolution.co.uk.