Marlborough (Mass.) Contributory Retirement System is searching for a real estate manager to run $2 million to $4 million, confirmed Margaret Shea, board administrator of the $104 million pension fund.
The pension fund had an actual allocation of 3.3% to real estate as of Dec. 31, and the fund has a target of 5%, “giving us a little room,” Ms. Shea said in a telephone interview. The funding source has not been determined.
Ms. Shea referred further questions to investment consultant Meketa Investment Consulting Group, which is assisting with the search.
A copy of the RFP is available from Meketa's website.
Proposals are due at 4 p.m. EDT on April 5. LouAnn Eisenhut, vice president at Meketa, wrote in an e-mail that responses would be discussed at the system's April board meeting and did not provide further information regarding a timetable for a decision.
An e-mail to Jason Post, assistant vice president at Meketa, was not returned by press time.