ACCESS seeking to appoint two private equity allocators

ACCESS, which consists of assets totalling c.£35 billion on behalf of participating pension funds, is seeking to appoint two private equity allocators.

This marks the third phase of ACCESS’s private markets programme that has seen it steadily add private markets assets into its investable universe, most recently infrastructure and real estate.

The appointed private equity allocators will oversee a multi-vintage programme whereby authorities will have the ability to commit to vintages on an ongoing basis over the term of the mandate. Each vintage is expected to be globally diversified, with investments across primary funds, secondary funds and co-investments.

For the first five vintage years of the mandate, it is anticipated that the aggregate size of the annual commitments to the two private equity allocators will be on average of c.£500 million or more each year. Considering the potential ultimate scale of the mandate, it is anticipated that total assets across all vintages across both allocators could exceed £4-6 billion, based on potential asset growth and/or increases to individual authorities target allocations. Further information including assumptions and caveats are contained in Invitation to Tender (ITT) documents.

The contracts will be procured through a tender, carried out as a two-stage restricted procedure. Submissions for the tender need to be received in English by 14:00 BST on 24 May 2024.

Full details of the requirement for this search can be found in the Specification at Annex 1 of the ITT documentation by registering within Hampshire County Council’s instance of the In-Tend e-procurement platform.