University of Kentucky, Lexington, is searching for at least one non-core real estate manager to run $40 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 $27.2 million, or 2.5% of assets, invested in non-core real estate, according to the RFP.
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 Oct. 9. Finalist presentations are slated for Dec. 16. A hiring date has not been determined.
Susan Krauss, interim treasurer, and John Deans, contracting officer, did not return telephone calls by press time.