Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, is searching for one or more managers to run $25 million to $40 million in value-added real estate, confirmed Don Stracke, senior consultant at NEPC, the trust's investment consultant.
The $844 million trust has a target real estate allocation of 5% to 8% and a current allocation of 1% to 2%, Mr. Stracke said in an e-mail.
The selected firm must have at least $1 billion in assets under management in the style proposed and be willing to provide audited financial statements of the strategy, according to the RFP.
The RFP is available on NEPC's website. Proposals are due at 4:30 p.m. EDT Aug. 6. Finalist interviews are slated for Aug. 21, with a hiring decision on Aug. 31.