London Borough of Camden Pension Fund issued an RFI for at least one manager to run a real estate portfolio ranging from £35 million ($52 million) to £70 million, according to Ken Bumpus, pensions officer for investments at the £785 million fund.
The real estate portfolio will likely include separate U.K. and global strategies, and managers may apply for both.
About £12 million will come from cash; fund officials likely will fund the remainder from reducing a Legal & General Investment Management passive U.K. equity portfolio valued at about £170 million, Mr. Bumpus said.
Additional information can be obtained from investment consultant Hymans Robertson. Proposals are due Nov. 30. Manager appointments are scheduled for the first quarter of 2010.