Appointment of Pension Fund Manager - Direct Corporate Lending

Concepts

• pension fund management
• essex pension fund
• chelmsford
• appointment of pension fund manager
• 3rd fund raise
• pension fund
• investment manager
• direct corporate lending
• senior secured direct corporate lending
• value of the funds

Location

Essex

Description

Essex Pension Fund are seeking to appoint an Investment Manager for a Direct Corporate Lending mandate of approximately £200m-£250m. The Council reserve the right to alter the value and length of the contract.

Total Quantity or Scope

- Tenderers must be appropriately regulated to manage a Direct Corporate Lending mandate for an LGPS client; - Tenderers must be actively raising capital for a close ended commingled Fund in Q2 and Q3 2021; - The Fund must seek to lend 90% or more of assets to 1st lien senior secured corporate debt, to mid - large cap companies; - Tenderers must be the sole or lead lender in the majority of loans; - The majority of loans must be structured with financial maintenance covenants as a minimum; - The Fund should be either Global or European focused; - The Fund should target a net return in the region of cash plus 5% - 6% p.a.; - The Fund must have a minimum target size of £2 billion; - Tenderers must be on at least their 3rd Fund raise for this specific strategy; - Tenderers must have at least a 5 year track record in Senior Secured Direct Corporate Lending - Tenderers must be able to comply with the appropriate LGPS regulations; - The Council reserves the right to alter the value of the funds awarded and this may change over time; - The Council reserves the right to alter the length of the contract.

CPV Codes

• 66141000 - Pension fund management services

Indicators

• Bids should cover the whole contract.
• Renewals are not available.
• Financial restrictions apply.
• Professional qualifications are sought.
• Award on basis of price and quality.