London Borough of Tower Hamlets Pension Fund is searching for a long-only multiasset absolute-return manager to run £60 million ($98 million), said Oladapo Shonola, chief financial strategist for the £700 million fund.
Hedge funds and funds of funds will not be considered.
This is the pension fund’s first absolute-return mandate. The move was recommended for diversification by investment consultant Hymans Robertson, which is assisting in the search.
Mr. Shonola declined to provide further information.
Responses are due by Feb. 19. More information is available by sending an e-mail to [email protected]