The Finnish Cultural Foundation has signed a long term agreement to outsource the management of private equity and other alternative investments to EQ Asset Management.
The outsourcing covers both existing and future investments.
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"The Finnish Cultural Foundation is one of the largest institutional investors in Finland and we are very pleased to have been appointed as their partner in building the private equity program. Private equity investments are by nature long term and illiquid offering a higher expected relative return when compared with other asset classes.
For this reason, private equity is ideally suited to long term investors. The private equity team of eQ Asset Management has a long experience, solid track record and a wide manager network — we believe eQ Asset Management offers an outstanding platform for The Finnish Cultural Foundation to access private equity markets globally", says Staffan Jåfs, Head of Private Equity at eQ Asset Management.
"We have been pleased with the return of our private equity portfolio and private equity will continue to play a central role in our asset allocation. However, the management of these investments requires a fair amount of administrative resources when compared with other asset classes, including monitoring and reporting systems.
By outsourcing the management of new investments and portfolio administration to eQ Asset Management we achieve cost-effectiveness, excellent reporting and investment service tailored to our needs", says Ralf Sunell, The Chief Investment Officer of The Finnish Cultural Foundation.
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