Cambridge (Mass.) Contributory Retirement System is searching for managers specializing in core open-end real estate to run approximately $80 million.
The pension fund is only looking for a commingled fund.
Segal Rogerscasey, investment consultant to the $1.1 billion pension fund, is assisting with the search.
UBS Global Asset Management and Invesco are the current real estate managers. They manage $54 million and $33 million, respectively. Segal Rogerscasey spokesman Todd Kohlhepp said that the search is being conducted to comply with Massachusetts state law requiring services be put up for bid every seven years. The managers are invited to rebid.
The RFP is available on Segal Rogerscasey's website.
Proposals are due at 3 p.m. EDT Oct. 19. A selection date was not disclosed.
Ellen K. Philbin, executive director of the pension fund, could not be reached by press time.