City of Quincy (Mass.) Contributory Retirement System issued an RFP for a manager to run $5 million to $10 million in the plan's first value-added real estate portfolio, said John A. Mancuso, investment analyst with plan consultant Meketa Investment Group. The $270 million pension plan is seeking a manager to complement current manager UBS Realty Investors, which handles about $20 million in core real estate. Plan officials will accept proposals for open-end or closed-end commingled portfolios, according to the RFP. A funding source has not been determined, but no manager will be terminated, Mr. Mancuso said.
The RFP is available on Meketa's website at www.meketagroup.com, and proposals are due Oct. 28. Mr. Mancuso said there is no timetable for presentations and a selection.
Edward J. Masterson, executive director of the retirement system, did not return a call by press time.