Pension Protection Fund, London, is searching for farmland and timberland managers to be included on a preapproved panel, confirmed Ana Moreno, spokeswoman for the £9 billion ($14 billion) fund.
It is too early to say how many managers will be selected or how much they'll run, Ms. Moreno said. Because the fund is growing, mandates in this new asset class won't likely affect existing allocations or managers, she said.
The investments will sit in the fund's 20% allocation to alternatives.
The preapproved panel approach “gives our portfolio the flexibility (of having) specialist managers ready to do business for us,” Ms. Moreno said.
Proposals are due March 5. Further information can be obtained by e-mailing [email protected]. Fund officials hope to have manager selections and investments made by the end of the year, Ms. Moreno said.
