Searches and Hires

Knowledge Foundation of Sweden taps 2 active managers

Stiftelsen for Kunskaps-och Kompetensutveckling, Stockholm, hired Mercer Sweden and Amundi as active managers, according to a notice at European procurement website Tenders Electronic Daily.

Amundi and Mercer will each manage 10 million Swedish kronor for the 9.3 billion Swedish kronor ($1 billion) Knowledge Foundation of Sweden, which finances research at universities in the country. The foundation sought active managers, with "excellent track records and high-quality investment teams stable over time," the notice said. What type of strategy the assets will be managed in could not be learned.

A spokesman for the foundation could not be reached to comment about the selection process.