AP1, Stockholm, is searching for up to three hedge fund “partners” to help manage a new $1.5 billion portfolio, said Rikard Kjorling, head of external management at the 202.3 billion Swedish kronor ($26 billion) fund.
Partners could be fund-of-fund managers or consultants with experience in strategy/portfolio design, manager research and selection, portfolio monitoring and risk management. All strategies will be considered, but investments must be run in segregated accounts, Mr. Kjorling said.
The structure will be similar to one the fund uses in private equity, where 2.8 billion kronor is run by LGT Capital Partners, Hamilton Lane and WP Global Partners, Mr. Kjorling said.
Proposals are due Aug. 28. A selection is expected by the end of the year, Mr. Kjorling said. Further information is available at http://www.ap1.se/en/Procurements/Procurements/Procurements/2010/Tender-for-Strategic-Hedge-Fund-Partner.
Separately, AP1, along with fellow Swedish National Pension funds AP2, AP3 and AP4, are searching for environmental, social and governance analysis providers. More information is available at http://www.ap1.se/en/Procurements/Procurements/Procurements/2010/Analysis-of-environmental-social-and-ethical-aspects-including-advice.
Nadine Viel Lamare, spokeswoman for the Ethical Council, which coordinates ESG efforts among the four national pension funds, could not be reached for further information by press time.