Italian pension seeks alternatives manager

The RFP reveals the duration of the contract is 12 years, and that the strategy of the mandate is to invest in private equity and private debt funds, in a diversified and balanced way. It is permitted to invest in funds-of-funds.

The funds should invest in companies based in the European Union or in the European Economic Area. The funds should be denominated in euros.

The RFP also mentions that the commitments to funds should be in the €5-25m range, though the upper limit of €25m does not apply for funds-of-funds.

For private equity funds, the focus should be on buyout and growth strategies. Direct investments in distressed and turnaround funds are not permitted. The Italian LP also does not welcome investments in venture capital. 

As for the private debt funds, the focus should be on senior and unitranche funds. Investments in distressed, non-performing loans and venture debt are also not permitted as part of the mandate.

Interested firms should provide information about the company, investment process of the mandate, business plan for the proposed funds, risk management and compliance, assets under management, track record and management team, among other details.

The deadline for proposals is on 10 January 2020. More information about the mandate can be found here.

Fondoposte is the national supplementary pension fund for employees of Poste Italiane and its subsidiaries.

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