San Francisco City & County Employees' Retirement System has whittled its responses to an RFI for a commercial mortgage manager to six candidates, said Dick Picket, senior investment officer, fixed income, at the $10 billion fund.
The six are Capri Capital; C.B. Richard Ellis; Heitman Capital; Legg Mason; Lend Lease; and Conning Asset, formerly Schroder Mortgage Associates.
The RFI is for a replacement for AEW Capital Management, which was terminated in June.
Mr. Picket said the next step will be to evaluate the RFIs and determine whether to recommend to the board that RFPs be issued or whether to turn the account over to Conning, which has been running half of the $300 million program since its inception. An assignment would be for up to $150 million.
The Townsend Group is assisting.
