Ircantec seeks managers for €1.2 billion in OECD bonds

Ircantec, Paris, is searching for money managers to run a €1.2 billion ($1.3 billion) OECD sovereign debt allocation.

The €9.8 billion French pension fund is searching for managers to run the allocation in bonds of countries in the Organization for Economic Cooperation and Development, and using dynamic risk management, said a procurement notice filed with public organization Caisse de Depots Group.

According to a separate notice filed with European procurement website Tenders Electronic Daily, Ircantec's board of directors decided to initiate the search in June.

Proposals are due March 17, and further details are available on Caisse de Depots' website.

Spokesmen for Ircantec could not be reached for comment by press time.