Ircantec, Angers, France, has hired Nordea Asset Management, in partnership with ODDO BHF Asset Management, to manage a decarbonization-focused global equity mandate with a target of €800 million ($870 million), according to a news release.
The mandate is based on NAM’s BetaPlus Responsible Enhanced Equities Strategies. To help Ircantec achieve its 7% annual CO2 reduction, the strategy uses NAM’s decarbonization tools to track companies' progress towards net-zero emissions.
The mandate will be managed by NAM’s multiassets team, which has been managing BetaPlus strategies for over 15 years and works closely with NAM’s responsible investments team.
The mandate is wrapped in a French-domiciled fund, which was launched in January 2025 and hosted by ODDO BHF AM.
Ircantec manages pensions for nonpermanent employees of the French government, local authorities and public institutions, and has more than €17 billion in invested assets.
Caisse des Depots et Consignations acts as fiduciary manager of the plan and selects external asset managers to manage dedicated mandates.
