New Bedford (Mass.) Contributory Retirement System is searching for core real estate managers to run a total of about $20 million in an open-end fund.
Segal Rogerscasey, investment consultant to the $275 million pension fund, is assisting with the search.
BlackRock and UBS Global Asset Management are the current managers; BlackRock runs $12 million, and UBS, $9 million. Todd Kohlhepp, spokesman for Segal Rogerscasey, said the search is being conducted to comply with Massachusetts state law requiring services be put up for bid every five 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. 26. A selection date was not disclosed.