Overland Park (Kan.) fire and police department retirement plans are searching for total-return fixed-income and real estate managers, confirmed Steven Roth, director of manager research at Dahab Associates, investment consultant to the two pension funds.
The pension funds are looking for at least one total return or unconstrained bond manager to run $21.5 million total — $16 million for the $80 million Overland Park Police Department Retirement Plan and $5.5 million for the $29 million Overland Park Fire Department Retirement Plan.
The two pension funds are also searching for a manager to run $5.5 million total in an open-end core or core-plus real estate fund — $4 million for the police plan and $1.5 million, fire.
It is the first investments in both real estate and unconstrained bonds, Mr. Roth said. Funding is coming from rebalancing; no managers will be terminated.
The RFPs are available on Dahab's website. Real estate proposals are due at 5 p.m. EST Jan. 7; unconstrained bonds, 5 p.m. EST Jan. 8. Hiring dates have not been determined.