Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, is searching for up to seven active equity managers to manage a €1.25 billion ($1.41 billion) allocation to U.S. large- and midcap equities.
The contract is divided into two lots, according to the ERAFP website.
Two managers will be selected to run a €1.1 billion large-cap U.S. equity allocation. Two additional managers will be selected on a standby basis.
One manager will also be selected to run a €150 million U.S. midcap equity portfolio. ERAFP will also select two additional managers on a standby basis.
The €35 billion fund will compare the large-cap managers’ performance to the MSCI USA index. Midcap equity portfolio will be compared to the Russell Midcap index.
The selected managers will comply with ERAFP’s socially responsible investment and impact investment approaches.
The contracts will last for five years, with an option for ERAFP to renew them for an additional two years each.
Submissions should be sent by noon Central European Time on May 4, via public procurement platform achatpublic.com. Registration is required.
U.S. equities constitute 10% of ERAFP’s asset allocation. Loomis Sayles and Robeco currently manage North American equities for ERAFP, according to ERAFP's annual report.
Additional details could not be learned.