Ohio Public Employees Retirement System, Columbus, on Friday intends to initiate a search for a real estate consultant, to be hired in the first quarter. The consultant will be responsible for establishing strategies and procedures for the $57 billion plans real estate portfolio, said Neil Toth, director of investments. The systems target real estate allocation is 9% of assets. Currently, the plan has nine real estate managers and an internally managed REIT portfolio, which total $5.4 billion.
Proposals are due Dec. 17. Cooper Consultants and Ennis Knupp are assisting.
The system also hired Barclays Global Investors to manage $1.2 billion in a passive Russell 3000 portfolio. It will fund the allocation by reducing its internally managed $21.3 billion domestic equity portfolio, according to Mr. Toth. The hiring is part of the systems ongoing restructuring of managers. Ennis Knupp assisted.