New York State Common seeks bids for real estate consultant
By Kevin Olsen | January 8, 2013 3:53 pm
New York State Common Retirement Fund, Albany, is searching for a real estate consultant, according to an RFP posted on the $150.6 billion pension fund's procurement website.
Townsend Group is the current real estate consultant. It could not be learned by press time whether it is invited to rebid.
The contract is for five years, starting April 1, with two one-year renewal options.
The pension fund has a 6% actual allocation to real estate.
Interested firms must have current clients with an aggregate $2 billion in real estate investments and include one U.S. public pension fund with at least $25 billion in totalassets, according to the RFP.
The RFP is available on the state's procurement website. Proposals are due at 4 p.m. EST Jan. 31. Finalist interviews are anticipated the week of Feb. 25, with a hiring decision on March 25.
Brian Matthews, director of financial administration at the office of the state comptroller, declined to provide additional information.