Norfolk County Retirement System, Canton, Mass., is searching for a private real estate manager to run $10 million, confirmed Patrick LePage, assistant executive director.
The $655 million pension plan is looking for firms that have at least one prior private real estate fund, focus exclusively on the U.S. and are more than 50% owned by key investment professionals, according to the RFP. The fund must be closing no later than December, as well.
The pension plan has a 7.5% target allocation to real estate, Mr. LePage said in a telephone interview.
Investment consultant Wainwright Investment Council is assisting.
The RFP is available on Wainwright's website. Proposals are due at 2 p.m. EDT Aug. 2. A hiring decision is expected by the end of the year.