Fonds de Reserve pour les Retraites, Paris, is searching for U.S. active equity managers to run a total about €650 million ($699 million) allocation, according to its website.
The €21.3 billion pension fund will select up to three managers to run a €450 million allocation to large- and midcap U.S. equities.
It will also select up to two managers to run a €200 million allocation to U.S. small-cap equities.
Managers must take ESG factors into account in their analysis and investment management processes as well as align them with FRR's exclusions policy on banned weapons, tobacco and coal; the fund's engagement policy; and its target objective to have a carbon free portfolio 2050.
Each of the mandates will last five years and can be extended for an additional year. Applications should be sent by noon Central European Time on Aug. 8 through the fund's website.
A spokeswoman could not be reached to provide further details about the search.
