Searches & Hires

Kent County Council issues call for collective investment vehicle provider

Kent County Council, Maidstone, England, is searching for a collective investment vehicle manager on behalf of the ACCESS Pool of local government pension scheme funds.

A noticed filed with European procurement website Tenders Electronic Daily said the provider will be responsible for establishing and operating an authorized contractual scheme and other investment vehicles on behalf of the asset pool, which has £33 billion ($42.8 billion). The vehicle is expected to have 25 to 35 subfunds, said the notice.

The provider will be responsible for establishing investing subfunds and for appointing, managing and dismissing money managers for those strategies. Strategies will span all major asset classes, and the chosen provider will be responsible for quarterly reporting to the pool on a range of monitoring metrics and key performance indicators, said the notice. It also will be required to apply for and obtain the necessary regulatory authorizations required to operate the ACS.

The contract will begin Feb. 1, and will last for five years with a possible extension of up to two years.

The deadline for RFPs is Oct. 6. Further details are available on the TED website.

The ACCESS pool is made up of Cambridgeshire County Council Pension Fund, East Sussex County Council Pension Fund, Essex Pension Fund, Hampshire Pension Fund, Hertfordshire Pension Fund, Isle of Wight Council Pension Fund, Kent Pension Fund, Norfolk Pension Fund, Northamptonshire Pension Fund, Suffolk County Council Pension Fund and West Sussex Pension Fund.

Further information was not available.