Fonds de Reserve pour les Retraites, Paris, is seeking up to four active managers to run up to €350 million ($379 million) in French small- and midcap equities.
The selected managers will be required to integrate ESG into their analysis and investment management processes, as well as incorporating FRR's exclusions and engagement policies, according to a notice on the pension fund's website.
FRR requires that the selected managers demonstrate a 70% carbon reduction level vs. the benchmark.
The contract will run for five years and could be renewed for a further year. FRR had €21.3 billion in assets as of Dec. 31. Information on how the allocations are funded could not be learned.
Submissions should be sent by noon Central European Time on May 22 via FRR's procurement platform.
The pension fund is also searching for an external research provider to measure, analyze and monitor the environmental and climate footprint of its portfolio, according to a notice on European procurement website, Tenders Electronic Daily.
FRR is separately searching for an external service provider to measure, analyze and monitor to what extent its portfolio incorporates ESG factors, according to a separate notice on TED.
Applications for both searches are also due at noon on May 22.
A spokeswoman could not be immediately reached to provide further details.