Border to Coast Pensions Partnership, Leeds, England, started a formal search for a core multiasset credit manager.
The £46 billion ($56 billion) pension fund pool said in a notice on its website that it's looking for a manager with strong expertise of each credit subasset class and the widest possible investment universe as well as sufficient monthly liquidity.
The core manager hire will be followed by a tender process for specialist managers. The pool will begin to search for specialist managers in the first quarter of 2020.
RFP information is available by contacting investment consultant MJHudson by email. The deadline for applications is 4 p.m. on Aug. 28 British Summer Time.
The transition of assets from local authority funds to the pool's multiasset credit fund is expected to take place in the second quarter of 2020 and Border to Coast will appoint a transition manager to execute the process; Inalytics will serve as consultant for the transition.
The partnership oversees investment of assets for the Bedfordshire Pension Fund, Cumbria Local Government Pension Scheme, Durham County Council Pension Fund; East Riding Pension Fund, Lincolnshire Pension Fund, North Yorkshire Pension Fund, Northumberland County Council Pension Fund, South Yorkshire Pension Fund, Surrey Pension Fund, Teesside Pension Fund, Tyne and Wear Pension Fund and Warwickshire County Council Pension Fund.
