Searches and Hires

CAVAMAC seeks fixed-income managers

Caisse d'allocation vieillesse, Paris, is looking for up to six managers to manage a total of €240 million ($282 million) fixed-income allocation, according to Olivier Jéséquel, director at consultant bfinance, which is assisting with the search.

CAVAMAC, the €900 million mandatory French social security fund, plans two mandates — one a €80 million high-yield euro-denominated bonds and a €160 million aggregate government and corporate euro-denominated bonds, which will be split between two managers each. One additional manager could be selected on a standby basis for each of the mandates.

Money managers bidding for the aggregate bond contract should have at least €320 million in aggregate bond strategies that combine government and corporate bonds. High-yield managers should have at least €160 million in high-yield eurozone bonds or European bonds.

Proposals are due by 3 p.m. Central European Time on July 19. The RFP is available on European procurement website Tenders Electronic Daily.