Fresno (Calif.) City Retirement Systems is searching for a value-added/opportunistic real estate manager, said Stanley McDivitt, outgoing retirement administrator, in an e-mail.
Only U.S.-focused strategies will be considered; up to $30 million could be committed to the manager.
In October, the $2.4 billion pension fund approved eliminating its real estate investment trust allocation in favor of value-added managers. The pension fund had invested $129.3 million total in REITs managed by Heitman and Principal.
The request for information is available on investment consultant NEPC's website.
Proposals are due by 4 p.m. EST Dec. 31. A hiring decision could be made on April 26.