University of Kentucky, Lexington, is searching for at least one non-core real estate manager to run $20 million total for its $1.1 billion endowment, according to an RFP posted on the university's website.
The endowment has a 12% target allocation to real estate and has $24.7 million, or 2.3% of assets, invested in non-core real estate, according to the RFP. International real estate funds are also acceptable.
Investment consultant R.V. Kuhns & Associates is assisting.
The RFP is available on the university's procurement website. Proposals are due at 3 p.m. EDT July 11. Finalist presentations will take place the week of Sept. 9. A hiring date has not been determined.
A phone call to Susan Krauss, assistant treasurer for investments, was not returned by press time.