Atlanta General Employees’ Pension Fund is searching for an open-end core or core-plus real estate manager, said an RFI posted on the website of investment consultant Callan Associates.
It would be the $1.2 billion pension fund’s first exposure to the asset class. In April, the pension fund formally adopted a new 5% target allocation to alternatives after committing money to two private equity funds.
The new target follows the signing of a law in April 2012 by Gov. Nathan Deal. The law, which was effective on July 1, 2012, allowed most public retirement systems in Georgia to invest in alternatives for the very first time.
It could not be learned by press time how much the pension fund intends to allocate to real estate.
Responses to the RFI are due on Sept. 5. A timetable for a hiring decision was not provided.
The RFI is available on Callan’s website.
Richard Larimer, account executive at GEMGroup, the pension fund's third-party administrator, could not be immediately reached for further information. Douglas I. Strachan, chairman of the board, and Yvonne Cowser Yancy, the city’s commissioner of human resources and member of the board, did not immediately return phone calls.