VER seeks portfolio administrator for illiquid investments

The Finnish LP, which invests pension assets and helps the state to prepare for financing future pensions, makes all investment decisions in-house.

The portfolio contains 10.6% in illiquid assets, specifically 2.2% in private equity, 2% private credit, 1.6% infrastructure, 3.2% real estate, 0.9% illiquid loans and 0.7% unlisted equity.

The portfolio administrator would be responsible for the production of the back-office service and reporting of VER's illiquid investments.

As part of the back-office service, the successful candidate would have to cooperate closely with the investor and OP Asset Management's (OPVH) back office in support functions, such as monitoring capital calls and distributions, and reconciliation. The selected provider would also operate the portfolio management system, and VER needs to be able to access the portfolio data through its own client interface. The portfolio administration service might also include an analysis tool, as an option.

Interested candidates can apply by submitting an application in Finnish or English, and the deadline for responses is 12:00 pm CET on 1 November 2018.

The contract is expected to start as of January 2020, and it will be in force until further notice. The contract can be terminated either by VER using a 12-month notice period, or by the portfolio administrator by using a 24-month notice period.

VER has recently committed to KRR III, Vaaka Partners Buyout Fund III and EQT Credit III. It has generated 0.9% returns from its private equity portfolio as of June 2018, down from 15.6% in 2017.

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• Topics
• LPs
• Performance
• Nordics
• Vaaka Partners Ltd (Formerly Pohjola)
• EQT