Brockton (Mass.) Contributory Retirement System is searching for a real estate manager to run $5 million, according to an RFP posted on the website of the Massachusetts Public Employee Retirement Administration Commission.
Interested managers must offer a minimum real estate target fund of at least $100 million, which must be open until at least March 11, 2011. They also must have at least two prior real estate funds and at least five people in their investment staffs.
Harold P. Hanna, executive director of the $305 million system, said in a telephone interview that the investment could be funded from the system’s fixed-income or equity allocations. He said it is not yet known whether terminations could result.
Proposals are due by 4 p.m. EST Dec. 1. Mr. Hanna said he expects a manager to be chosen in early 2011.