BELGIUM - Belgacom, the Belgian telecommunications operator, has put off appointing a manager to run a EUR170m European real estate mandate until its next board meeting, Fabian de Bilderling, senior investment officer, said.
Originally, the EUR3.5bn fund was to have appointed a real estate investment manager and a corporate bond manager simultaneously. However, due to personnel changes at the fund, the fund decided it would be best to delay the real estate tender and proceed with the fixed income appointment.
De Bilderling went on to add that the winning manager will be selected from a shortlist comprising five investment managers from the UK and the Netherlands, with the majority coming from British shores. Due diligence is being carried out now, he said, and an appointment is expected towards the end of the second quarter.
Additionally, de Bilderling revealed that the fund is now finalising the appointment of a firm to run EUR170m in corporate bonds. Although he declined to add any further details as the contracts have yet to be finalised, he did say that the appointment would take place shortly.
By Geoffrey Ho
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