NETHERLANDS - Metaal en Techniek (MNT), the e21bn Dutch pension for the metal working and mechanical engineering industry, is looking for managers to run hedge fund, commodities and private equity mandates.
The fund, which has allocated roughly around e800m to hedge funds, is looking to hire 14 new direct hedge fund managers,
Currently, the fund has around 20% in direct hedge fund investments and 80% in the fund-of-hedge-fund route. Allocation to direct investment is expected to be hiked to 50% by year-end, reducing investments in fund-of-hedge-funds.
The fund is searching for direct hedge fund managers with assets under management amounting to more than e200m.
MNT is also looking to hire new commodities managers to manage part of its e840m commodities portfolio.
“We have been looking for new commodities managers, but there are hardly any quality active managers who can show a good track record, indicating that they have substantially outperformed the index consistently.
“We are only interested in appointing external managers if they can add substantial alpha,” said a source close to the fund.
On the private equity front, the fund plans to hire managers for venture capital and buy-outs.
Currently, MNT has allocated around 11% in alternatives - 3.5% to commodities, around 3.5% to hedge funds and 4% to private equity.
Equities stands at roughly around 33.5%, real estate at around 12.6% and bonds at around 42.5%.
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