Through the Procurement, the Foundation is looking for hedge fund evaluators with excellent track records and high-quality staff that is stable over time. Relevant managers should not manage too large portfolios of assets, as management may then become constrained by any underlying manager’s capacity.

The Foundation places great emphasis on a manager’s ability to construct consistent portfolios with very low correlation to equities and long-dated fixed income securities, especially in times when the Foundation has significant positions in those. Of significance is also a manager’s fund-picking capability and operational due diligence skills to ensure stability and avoid hedge fund failures. Finally, the Foundation is looking for managers that care for sustainability issues in a broad sense.

The Foundation’s purpose with the Procurement is to procure a framework agreement regarding asset management services (a “Framework Agreement”). The Foundation will enter into Framework Agreements with 3 tenderers for the Absolute return Mandate.