Searches and Hires

London CIV wants global custodian for pool of 32 pension funds, hires 4 for fixed income

London CIV, the pool of 32 local authority government pension funds of London boroughs, is looking for a global custodian, according to a notice on European procurement website Tenders Electronic Daily.

The 6.5 billion ($9 billion) pool is also seeking an administrator and depository services provider to support investments in alternative assets. The global custodian should also provide cash management. Firms are allowed to submit proposals for all three services.

Proposals are due April 6. London CIV will make selections by April 12.

Separately, London CIV hired four managers to manage its fixed-income allocation: Pacific Investment Management Co., Ares Management, CQS and MidOcean Partners, a spokeswoman said. She declined to provide additional details as to the size of the allocation.