Lynn (Mass.) Retirement Board is searching for at least one real estate manager to run roughly $8 million in core, value-added and/or opportunistic styles, confirmed Kevin Leonard of consultant Segal Advisors. A selection is expected by the end of the first quarter.
The asset class is new and funding would come from reallocation of assets, Mr. Leonard said. The system has about $179 million in total assets, confirmed Susan Walsh, systems analyst for the plan.