UK - Somerset County Council pension fund has placed a £200m (US$392.6m) active fixed interest mandate out to re-tender.
He said there had already been considerable interest shown in the tender.
According to the pension fund's 2007 annual report, the scheme has some 19,000 active members. The fund's portfolio is spilt between equities, property and cash, but has little or no allocation to alternative assets.
Sweet said the fund had a "very, very small" holding in private equity - about £800,000 - and no allocation to hedge funds, but was hoping to place a more significant private equity mandate out to tender later this year.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.