UK - The London Pension Fund Authority is looking to allocate up to 5% of its assets to private equity - a mandate that will be worth between £50m-75m.
The scheme is looking to establish a geographically diversified private equity programme through pooled vehicles, as a segregated account, or as a combination of the two approaches.
The LPFA, which has 70,000 members, said a “significant” portion of the mandate could be put into US private equity funds.
Interested fund managers will be required to reveal the individual records of all of their funds, and the market values of both their total private equity assets under management and the market value of all the private equity assets managed on behalf of UK pension funds on December 31, 2002.
The LPFA is looking to shortlist between five and 10 firms for the mandate.
The deadline for expressions of interest is June 19. Shortlisted candidates will be contacted by July 4.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.