State-Boston Retirement System is soliciting proposals from real estate investment management firms to run approximately $30 million, said John Kelly, investment analyst for the $4.1 billion pension plan.
The focus will be on U.S., non-U.S. or global funds offering value-added or opportunistic strategies. The plan is looking to invest in more than one fund. Managers must be raising a closed-end fund with a minimum fund size of $200 million in order to be considered. Current managers are encouraged to submit proposals.
Investment consultant NEPC is assisting.
The RFP is available on NEPC's website. Proposals are due by 4 p.m. EDT on Aug. 12. The selection is expected to be made by the end of 2015.