The £4.3 billion Lancashire County Council Pension Fund is seeking a minimum of two active unconstrained global equity managers to oversee £1.5 billion, Pensions & Investments reports citing a website, Tenders Electronic Daily. The fund is based in Preston, England.

It is likely to hire 10 managers to work as per a framework agreement and give initial mandates of £100 million to £500 million to two to four of them. Finance will be sourced from the £717 million global equity currently with Mellon Transition Management. Funds will also come from the closure of Newton Investment Management, which managed £646 million in active global equity and JPMorgan Asset Management, £517 million in active U.K. equity.

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