Finnish foundation seeks alternatives manager

The alternatives portfolio may consist of private equity, private debt, and illiquid real estate investments, where each asset classes' allocation could range up to 50%, with a basic allocation of 33%. Alternative investments are expected to generate a 7% annual return, from which the annual cash flow target is 5% return.

The notice also states that interested asset managers should consider the foundation's investment horizon, including the fact that the assets should be in liquid form in 2029, as it expects private equity investments to have matured by that time.

The selection criteria for this manager search includes the price of the service, reporting system, experience in alternative investments, number of managed funds, diversification strategy, and quality of management research in regard to responsible investments, among others.

The foundation, which focuses on enhancing the city's competitiveness and attractiveness by Turku's 800th anniversary in 2029, is also searching for another manager for its €13m equities portfolio.

The deadline for responses is on 17 December 2019, and the notice can be found here.

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• Topics
• LPs
• Nordics
• Finland
• Responsible Investment