Clearwater (Fla.) Employees’ Pension Fund is searching for at least one manager to handle $60 million in active domestic real estate equity, said Steve Moskun, cash and investment manager. The $610 million plan issued two RFPs, one for real estate securities and the other for real estate vehicles “with daily or quarterly liquidity.” The fund might consider splitting the allocation. “We want to keep our options open at this point,” Mr. Moskun said.
Funding comes from rebalancing. The move was recommended for diversification in a 2005 asset allocation study conducted by Kalson & Associates.
The RFP is available on consultant Dahab Associates’ website at http://dahab.com/searches.html. Proposals are due at 5 p.m. EDT on Oct. 15. A selection is expected after Jan. 1, Mr. Moskun said.
