The NKr547bn (€68bn) Petroleumfund in Norway will be using electronic manager search technology to seek 14 mandates for between $5 to $8bn (€5.6 to €9bn) of assets, in a move that will be seen as somewhat innovative as most searches are still conducted through consultants.

The fund is to use IPE-Quest.com's search technology in one of the world's largest fixed income tenders. It is looking for five global and regional indexed core debt mandates for up to $4.5bn, five enhanced indexed core debt mandates for up to $2.5bn and four active core debt mandates for up to $1.2bn, including two U.S. mortgage backed securities mandates for up to $1bn.