Vermont Pension Investment Committee, Montpelier, will soon search for its first international real estate manager for the $3.6 billion Vermont State Retirement Systems, said Matt Considine, director of investments, in an e-mail.
The committee approved a search at its meeting on March 22 to be completed by its Aug. 23 meeting. Mr. Considine said no specific timetable or amount has been set.
Minutes from the committee meeting said the RFP was approved to further diversify the real estate portfolio, whose target was increased to 8% from 6% in February.
Investment consultant NEPC is assisting.
