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The $8.2bn (€6.4bn) Los Angeles City Employees’ Retirement System (Lacers) is looking for candidates to manage a $175m mandate investing in US small-cap value equities, as part of a review of the fund’s investment strategy.

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The $250m (€191m) Oklahoma Tobacco Settlement Endowment Trust Fund is looking for investment managers to invest $40m in US large-cap value equities. Those interested in getting the business will have to undertake not make any investments in tobacco-related stocks.

Sweden’s €15bn AP1 pension fund is putting £1bn (€1.45bn) out to tender following a decision to take more investment risk. The national fund is looking for emerging markets equity managers – both passive and active, and expert in either global or regional markets.
 Staffan Ifvarsson, investment specialist at the scheme, said it was still to be decided exactly how many separate mandates would be drawn-up and what each one would invest in within emerging markets.

The Danish pension fund ATP is poised to increase its foreign property investments in a move that could see it invest for the first time in real estate outside Europe.

The Second Swedish National Pension Fund (AP2) is seeking between three and seven asset managers to run global equity portfolios. Each manager will be tasked to outperform the MSCI World Index (Swedish krona) by 3 per cent. The size of each mandate will be between $150m (e117m) and $700m.

The First Swedish national Pension Fund, AP1, is seeking to appoint one or more private equity partners to establish a new private equity investment portfolio.

The Environment Agency in the UK has tendered three mandates worth a total of Ł295m (E432.7m) following a strategic decision to shift the management of its Ł980m Active Pension Fund from a balanced to a specialist structure.

The Rhondda Cynon Taf County Borough Council Superannuation Fund in the UK has put a £330m (e496m) balanced equity mandate out to tender due to dissatisfaction with the performance of the current holder of the brief, Deutsche Asset Management.