Alameda County Employees' Retirement Association, Oakland, Calif., is searching for a real estate consultant.
The $6.8 billion pension fund posted an RFP on Wednesday. Incumbent real estate consultant The Townsend Group resigned Aug. 20, said Agnes D. Macadangdang, administrative specialist in the investments department. Ms. Macadangdang did not explain why the consultant resigned.
The pension fund's board originally approved the search at its March 22 meeting; ACERA's allocation to real estate is 6%.
The RFP is available on ACERA's website. Proposals are due at 4:30 p.m. PDT on Oct. 23. Finalists are expected to be named Dec. 10, followed by interviews with the pension fund's investment committee on Feb. 11. The timeline for a decision was not made available.
Governance consultant Cortex Applied Research is assisting.
Betty Tse, chief investment officer, and Grant Hughs, senior investment officer, did not reply to requests for further information by press time.
