Key Takeaways
- • NEST is seeking a segregated account manager for a £260m ethical equities allocation, according to Investment & Pensions Europe (IPE).
- • The mandate is a segregated account, meaning the pension scheme would hold the assets directly under a dedicated manager arrangement.
- • The tender sits within a cluster of similar institutional manager searches reported by IPE in the same period, including Fonchim, the Swiss scheme tender via IPE Quest, FRR, a French private markets allocation, and Compenswiss.
Summary
NEST, the UK defined contribution pension scheme, is seeking a segregated account manager to run a £260m ethical equities allocation, according to a report from Investment & Pensions Europe (IPE). The headline details are drawn from the publisher summary and headline; the original article's full mandate requirements, eligibility criteria, and submission deadline were not available in the source material reviewed.
A segregated account structure gives the pension scheme direct ownership of the underlying securities under a dedicated manager arrangement, rather than exposure through a pooled fund. For allocators, the ethical or responsible-investment screening criteria applied to the mandate will be central to manager selection, though the specific exclusions and benchmark were not detailed in the available material.
The NEST tender appears alongside several other institutional manager searches that IPE has reported, including Fonchim's tender of five mandates worth €2.71bn, a Swiss scheme tendering up to €7.4bn through IPE Quest, French fund FRR's search for Paris-aligned equity index mandates, a French fund's selection of managers for a €1.6bn private markets allocation, and Compenswiss tendering up to CHF1bn per money market fund allocation. Taken together, these listings indicate active institutional demand for both listed and private-market mandates across European pension and state-linked investors.
A segregated account structure gives the pension scheme direct ownership of the underlying securities under a dedicated manager arrangement, rather than exposure through a pooled fund. For allocators, the ethical or responsible-investment screening criteria applied to the mandate will be central to manager selection, though the specific exclusions and benchmark were not detailed in the available material.
The NEST tender appears alongside several other institutional manager searches that IPE has reported, including Fonchim's tender of five mandates worth €2.71bn, a Swiss scheme tendering up to €7.4bn through IPE Quest, French fund FRR's search for Paris-aligned equity index mandates, a French fund's selection of managers for a €1.6bn private markets allocation, and Compenswiss tendering up to CHF1bn per money market fund allocation. Taken together, these listings indicate active institutional demand for both listed and private-market mandates across European pension and state-linked investors.
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