Natick (Mass.) Contributory Retirement System issued an RFP for a real estate manager to run $2 million, said Kevin Leonard, the Segal Advisors consultant who is assisting the $63.1 million pension fund. Fund officials are seeking a private real estate manager and will consider core and value-added investment strategies and open-end and closed-end portfolios. RFPs are available by e-mail at [email protected]; proposals are due Nov. 29. System officials recently increased the fund's real estate allocation to about 10% from 5% after an asset allocation study by Segal Advisors. Funding will come from the system's fixed-income portfolio; no managers will be terminated, Mr. Leonard said.
Kathleen Bacon, system director, could not be reached by press time for comment.