AP7, Stockholm, is searching for a consultant to assist in a finding active alpha managers later this year, according to a procurement document posted on the pension fund's website.
The pension fund's equity alpha portfolio is actively managed by seven managers. The fund will retender the seven mandates in May as well as look for two to three additional managers.
The pension fund had $15 billion in assets as of Dec. 31, 2010, according to Pensions & Investments data.
The consultant will advise on the manager selection process, identify a list of managers, set benchmarks and handle the administration of the whole process, according to the tender.
A PDF copy of the search document is available on the pension fund's procurement page.
Proposals are due March 29. No specific hiring date is listed, but the selected consultant is expected to start work on May 2.
Tenders will be posted on May 8 for alpha managers at European public procurement journal Tenders Electronic Daily's website. A detailed RFP will be sent out to selected managers on June 21 with a due date of Aug. 15. Managers are expected to be selected by Oct. 5.
Christian Ragnartz, AP7's chief investment officer, was not available for additional information.
