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PIP begins search for investment managers

07 May 2013

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The Pensions Infrastructure Platform (PIP) will soon begin its search for investment managers to look after some, or all, of the PIP's target £2bn assets.

Existing managers, teams of individuals providing investment managing services will be able to take part in the Expressions of Interest (EOI) exercise from 13 May until 31 May.

The PIP is considering outsourcing the investment management of some or all of its assets, developing its own in-house fund manager for some or all of its assets, or combine elements of the first two options.

The EOI process is the first phase in selection procedure, which would then be followed by a formal request for proposal stage with a smaller number of short-listed parties.

The National Association of Pension Funds chief executive Joanne Segars, said: "The start of the investment manager selection process is an important next step in the PIP's development.

"Founding Investors will be seeking an investment manager, or managers, with a strong track record, expertise, the ability to innovate and generate appropriate investment opportunities, and an alignment with the interests of pension funds as long-term investors."

The PIP secured ten pension funds as founding investors earlier this year and they have each made soft commitments of £100m, pushing the PIP's investment capital to £1bn.

PricewaterhouseCoopers and Clyde & Co will be helping the PPI with the selection process.

"In addition to the investment manager selection exercise, work is continuing on a number of key areas to prepare the PIP for launch later this year," said Segars.

First published 07.05.2013

monique_simpson@wilmington.co.uk