Seattle City Employees' Retirement System is searching for at least one core real estate manager to run between $25 million and $50 million, according to an RFP posted on the $1.9 billion pension fund's website.
The retirement system is searching for core real estate strategies that “predominately invest within the U.S.,” according to the RFP.
The pension fund's actual allocation to real estate as of March 31 was 10.3%, or $195 million, according to data posted on the pension fund's website. The target allocation is 12%.
The RFP is available from Seattle's website. Proposals are due at 5 p.m. PDT on Sept. 12. Further information regarding a timetable was not available by press time.
A phone call to Cecelia Carter, executive director and chief investment officer, was referred to Anthony Smith, investment strategic adviser, who did not return a phone call by press time.
Investment consultant Pension Consulting Alliance is assisting.