Connecticut Retirement Plans names three real estate consultant finalists

Connecticut Retirement Plans & Trust Funds, Hartford, has narrowed to three the number of firms being considered as the pension system's real estate consultant, according to minutes of a recent meeting of the state's investment advisory council.

The finalists are Townsend Group, Courtland Partners and Pension Consulting Alliance. Townsend has been the real estate consultant since 2008, and its contract expires Feb. 28.

State Treasurer Denise Nappier, the principal fiduciary for the $25 billion Connecticut Retirement Plans & Trust Funds, is expected to make a decision next month, according to the minutes. The council advises the treasurer on investment policies.

Representatives of the three firms made presentations Jan. 9 in Hartford to members of the council. The three firms were selected from those responding to an RFP issued in May. Deputy Treasurer Christine Shaw did not respond to requests for comment.