AP1 seeks to appoint PE investment platform provider
AP1, the SEK 335bn pension fund, is searching for a platform provider, in a bid to invest at least $1.5bn in private equity.
Investments should include private equity funds, secondary and co-investments, and be structured in a separate account.
Interested candidates should have a minimum of 20 years' experience in private equity, as well as experience in advising large institutional PE investors. They should also offer customised reporting and monitoring tools, and have offices in Europe, US and Asia. The pension scheme is also seeking a provider that has ESG processes in place, and ambitions in guiding GPs on ESG issues.
The mandate for this procurement, which will cover a 12-month period, also includes a three-year investment period starting in January 2019.
The Stockholm-based investor already has three strategic partnerships, including one with a platform provider. This would be the pension scheme's fourth three-year investment programme, and the procurement also includes an option to add a fifth investment programme starting on January 2022.
AP1 has allocated 5.4% to private equity as of June, and its current PE portfolio comprises around 130 private equity fund investments and 20 co-investments.
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