City of Newport News (Va.) Employees' Retirement System is searching for a core real estate or value-added real estate manager to run $10 million, said Tonya O'Connell, city financial services manager. The plan could hire either a core manager or a value-added manager, or could split the allocation between the two, she said. Officials of the $699 million pension plan want greater diversification.
The RFP is available on consultant Dahab Associates Inc.'s website at www.dahab.com, and proposals are due at 5 p.m. EDT Oct. 6. Final presentations are slated for Nov. 8. The investment committee will likely make a recommendation to the board following the presentations, and the board would vote on the selection at a Nov. 17 meeting, Ms. O'Connell said.