The $3.2 billion YMCA Retirement Fund Inc., New York, is looking for a real estate pension officer to spearhead the fund's move into real estate investing.
Candidates should have at least five years of experience managing real estate investments. Applicants may fax their resumes to Victor Raskin, chief investment officer, at (646) 458-2556.
The fund plans to allocate up to 3% of assets to real estate over a two-year period, mostly in private equity partnerships but with a small portion in real estate investment trusts, Mr. Raskin said. The allocation could grow to 8% of assets over time. Funding will come from reducing the fund's 39% allocation to fixed income, he said.
Separately, Richard Rubinstein was named as senior vice president-equities, a new position. He will manage an internal $900 million large-cap core domestic equity portfolio. He had been senior vice president and portfolio manager at OppenheimerFunds, New York; no information was available on whether or not he will be replaced.