Massachusetts Pension Reserves Investment Management Board, Boston, intends to issue an RFP for real estate and timberland consulting services sometime this year, confirmed MassPRIM spokeswoman Nicole Giambusso.
The RFP is expected to be issued in April.
The search comes as the $57.9 billion MassPRIM plans allocations of $345 million to core real estate, up to another $200 million to non-core real estate and $100 million to an industrial property development program.
The pension fund also plans allocations of about $500 million to timberland acquisitions and commitments of $1.4 billion to private equity and $700 million to private debt.
MassPRIM is also looking to complete the RFP processes for a hedge fund investment consultant and managed account service provider, as well as complete the research needed before issuing an emerging market equity RFP. The PRIM Board also approved the issuance of an RFP to select a risk measurement system provider.
On Tuesday the board approved a commitment of up to $50 million to H.I.G. Middle Market LBO Fund II, a middle-market buyout investment fund.
The $1.5 billion fund, managed by H.I.G. Capital, will invest in middle-market companies in a variety of industries through controlling or influential minority stakes.
In 2013, the pension fund established the Project SAVE initiative to identify more than $100 million in cost and fee savings over the next 12 to 24 months. About $29 million was already saved in the fiscal year ended June 30 through MassPRIM’s direct hedge fund investment program.