The Pensions Protection Fund has launched a search for specialist farmland and timberland investment managers.

The lifeboat fund, which has more than £9bn in assets, today said it is looking to appoint a panel of farmland and timberland managers during 2012 as it looks for opportunities to further diversify the investments held within its existing alternatives portfolio.
Exactly what proportion of PPF assets will be allocated to farmland and timberland will depend on the opportunities available at any given time.
But, the PPF expects the investments to be predominantly in land and the operations necessary to cultivate and market agricultural produce, or to grow and sell timber.
In a statement, it said: 'A thorough selection process will help identify a diverse range of managers that can demonstrate expertise in large scale farming and timberland operations.
'The ability to manage farmland and timberland responsibly and sustainably will be a key requirement in the selection process.'
A procurement notice for the tender process can be found here.