Morocco’s state investment institution CDG is preparing to hand over the management of 15 billion dirhams ($1.6 billion) of assets to outside fund managers in one of the biggest mandates ever seen in the country’s investment market. The move is being carried out through an open tender launched by CDG Capital on behalf of the Régime Collectif d’Allocation de Retraite (RCAR). Asset management firms have until 31 July 2026 to submit their applications.
The 15 billion dirham portfolio will be split into two parts. Around 10 billion dirhams will be invested in medium and long term bonds, while the remaining 5 billion dirhams will be invested in shares listed on the stock market.
The goal is to place nearly 40% of RCAR’s bond and stock portfolio under the management of independent firms that are not part of the CDG group.
CDG says the decision is part of its plan to focus more on its main activities while bringing in outside specialists to manage some of its financial assets.
The tender is expected to attract the country’s largest asset management firms because of its size.
The move comes as Morocco’s investment fund industry continues to grow. Assets managed by collective investment funds passed $91 billion in mid June 2026.
CDG plans to select up to 10 managers for the bond portfolio and up to five firms for the stock portfolio.
The institution says the initiative will help bring different investment skills into the management of its assets while supporting the growth of Morocco’s asset management industry and capital markets.
The fresh investment could also boost trading activity on the Casablanca Stock Exchange, whose total market value recently passed 1 trillion dirhams.
The selected firms will manage the funds under strict rules on behalf of CDG and RCAR, two of Morocco’s largest institutional investors.
