United Food and Commercial Workers Unions and Employers Midwest Pension Fund, Park Ridge, Ill., will interview finalists in June in its search for a firm to run $49 million in a commingled real estate fund, said Daniel Ryan, administrator. The $1.1 billion plan will terminate current real estate manager Morgan Stanley, which is converting its Prime Property commingled fund into a REIT, he said. Trustees will interview finalists the first week of June; Mr. Ryan could not identify the firms or speculate when a selection might be made. Marco Consulting is assisting. Cynthia Magpayo, Morgan Stanley spokeswoman, said the fund's conversion is expected by the end of June, contingent upon investor approval.
The plan's asset allocation is 45% domestic equity, 35% fixed income, 10% real estate, and 5% each in international equity and private equity.