France’s €9.8bn Ircantec is seeking to appoint managers to a framework agreement for €800m of active systematic equity investments in non-European developed economies.The public sector pension scheme has tendered two mandates for an initial allocation of €400m each.One of the mandates is for factor investing. For the other the pension scheme only said the manager should use an active systematic investing process different to that used for the first allocation.Both mandates are for equity investments in OECD countries excluding Europe. The contract is for five years. The deadline for applying is 14 November.Late last year Ircantec’s board approved a new strategic asset allocation aiming for a higher allocation to equities, real estate and unlisted assets.The focus this year is on implementing the new allocation, and Ircantec has previously said there would be a host of mandate tenders in connection with this.Earlier this year it launched a search for a dedicated transition manager. In June it awarded a €250m green bond mandate to Amundi Asset Management.Ircantec is a pay-as-you-go scheme – its €9.8bn of investable assets constitute reserves.FRR pushes into venture capitalAlso in France, Fonds de réserves pour les retraites (FRR) has awarded three venture capital mandates. Idinvest Partners, Omnes Capital and Truffle Capital will each set up and manage a fund for investments financing French companies’ “early stage” and “later stage” development.When FRR launched the tender in November last year, it indicated the mandates were for up to €200m in total. The €35bn pension reserve fund is in the process of implementing a €2bn allocation to domestic illiquid investments, split between private equity (€1bn), private debt (€600m), and real estate and infrastructure (€400m).FRR is also looking to appoint two transition management specialists as part of a mandate renewal. The application deadline is 27 November. See the forthcoming November edition of IPE magazine for a “How We Run our Money” interview with FRR.