Fondo Pensione Cometa, Milan, is searching for up to 14 managers to run a total of more than €8 billion ($9.1 billion) in assets.
A notice on the metal industry workers pension fund's website said the assets are split among three subfunds: cash-plus, income and growth.
The €9.6 billion pension fund said in the notice it will hire a maximum of 14 money managers divided among the three allocations. The size of the funds might vary due to participant choices, the notice added.
At least two, but a maximum of three, managers are sought to run a €2.83 billion cash-plus fund, for an expected five-year term.
It is expected that the €4.9 billion income fund will be run by between four and eight money managers, for an expected term of five years.
The third subfund, the growth fund, has about €575 million of assets. Cometa is looking for at least two, but a maximum of three, money managers to run these assets over a period of five years.
Further information is available on the fund's website. Proposals are due May 4. An expected hiring date was not available.
Further details, including the current managers and specific kind of investments, could not be learned by press time. Spokesmen at Cometa could not be reached for comment.