France’s Additional Pension Scheme for Civil Servants (ERAFP) has awarded nine mandates for the management of unlisted private equity and infrastructure assets.

The pension scheme issued a call for tenders in March 2025 as part of its ongoing investment diversification strategy.

Its mandates aim to support the scheme’s performance and ensure its ability to meet its pension commitments for the long term, while meeting its responsible management requirements and climate commitments.

The institution said the investments in private equity and infrastructure also contribute to financing the real economy.

It has structured this around four mandates covering the ‘main opportunities’ offered by unlisted assets, for a total target amount of €1.6bn over its duration.

Lot 1, which is dedicated to private equity in Europe, has an indicative target allocation of €700m and was awarded to Access Capital Partners and Ardian as active mandate holders, and Schroders as stand-by manager.

Lot 2, dedicated to North American private equity and representing an indicative allocation of €300m, was given to Schroders for the active mandate and Ardian for the stand-by mandate.

Lot 3, covering infrastructure in the OECD area, represents a target amount of €400m and was awarded to Amundi for the active mandate and BlackRock for the stand-by mandate.

Finally, lot 4 is dedicated to infrastructure for the green transition in Europe and worldwide, has an indicative target allocation of €200m, and was given to Access Capital Partners for the active mandate and SWEN Capital Partners for the stand-by mandate.

“The managers selected as stand-by mandate holders may be activated by ERAFP to support the evolution of its needs and strengthen the diversification of its investments,” ERAFP stated.

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