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French asset manager KeyQuant wins US mandate

Signing dealParis-based KeyQuant has won a $100 million (€93.3 million) mandate from a US pension fund.

According to KeyQuant, the Teachers Retirement System of the State of Illinois (TRS) awarded the mandate after the French firm met the pension fund’s investment criteria for maturity, risk management, liquidity, and transparency.

The $100 million mandate comes from the pension fund’s $3.2 billion absolute return portfolio.

This allocation has helped KeyQuant increase its assets under management from $180 million to $320 million over the course of 2016. The firm said it had also won additional assets from European and US corporate pensions, insurance companies and “well established” fund of hedge funds.

KeyQuant started in 2009 and its investment style “values uncorrelated performance and transparent foundations for all trading decisions” which the team use to develop systematic trend-following models.

TRS is the 37th largest pension system in the US and had assets of $44.8 billion, as of June 30, 2016.

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