Fort Lauderdale (Fla.) General Employees' Retirement System is searching for a core real estate manager to run $10 million, according to David Desmond, administrator. The board added the $293 million plan's first real estate investment to increase diversification and returns. Funding will come from trimming an $81 million active intermediate fixed-income portfolio run by Davis Hamilton Jackson & Associates.
The RFP is available on consultant Dahab Associates' website at www.dahab.com. Proposals are due Dec. 13, and the board will likely pick finalists at a meeting tentatively scheduled for Jan. 5, according to Mr. Desmond. Interviews and a selection are planned for February.