Ohio School Employees Retirement System, Columbus, is searching for a passive, long-only U.S. REIT manager to run $150 million, confirmed spokesman Tim Barbour.
The $12.2 billion pension fund is adding a third real estate investment trust manager to complement its two existing global REIT managers, Clarion Partners and Invesco Real Estate.
The pension fund approved a new asset allocation that includes a target allocation of 15% for global real assets in June. The pension fund previously had a 10% target allocation to global real estate; that now included in the global real assets allocation. As of Dec. 31, the actual allocation to real assets was 10.4%.
Proposals are due at 4 p.m. EDT on April 7. Finalist presentations are tentatively scheduled for the week of May 12 with a decision expected sometime in June.
The RFP is posted on the pension fund’s website.
