New Orleans Firemen’s Retirement System began a search for its first real estate managers, said Joe Meals of Consulting Services Group, the alternatives consultant to the $200 million pension plan. "We want to develop a diversified real estate portfolio and may hire a few managers with different strategies,” Mr. Meals said.
Funding for the $10 million allocation will come from domestic equities, which have been sold and are parked in a cash account. The RFP is available by e-mailing [email protected]; responses are due Sept. 13.
Selections are expected by the end of the year, he said.
