Merseyside Pension Fund, Liverpool, England, is searching for a real estate manager to oversee its £262 million ($367 million) U.K. direct property portfolio, confirmed Peter Wallach, head of the £3.5 billion pension fund.
Savills, the current manager, can rebid. The search is being performed because Savills five-year contract expires June 30. No changes are expected to the real estate allocation or its direct investment portfolio, Mr. Wallach said.
Responses are due May 5. Further information is available at http://www.merseysidepensionfund.org.uk.