Chicopee (Mass.) Contributory Retirement System is searching for a private real estate investment manager to run a $1.5 million apartment real estate portfolio, said Susanna Baltazar, executive director. Funding will come from trimming the plan's $36 million in fixed-income investments. The $119 million system has an 8% target real estate allocation, said Kevin Leonard, the Segal Advisors, the system's consultant. RFPs are available from Carol Tam of Segal Advisors at [email protected]; proposals are due Feb. 24.
Separately, the system picked Independence Investments to run $6 million in active domestic small-cap growth equities, subject to contract negotiations. Funding will come from the portfolio's current manager, which has not yet been terminated, Mr. Leonard said. He would not identify the firm.