Attleboro (Mass.) Municipal Contributory Retirement System, with about $42 million in assets, hired INVESCO as its first real estate manager. INVESCO will manage $2 million in publicly traded REITs, said Kevin Leonard, the Segal Advisors consultant who is assisting.
The other finalists were State Street Global Advisors, Morgan Stanley and Delaware Investment.
Funding will come from cash and from reducing exposure to existing managers; no terminations are expected.
