New York City Retirement Systems has issued an RFP for one or more real estate investment consultants, said a notice posted on the website of city Comptroller Scott Stringer, the fiduciary for the five pension funds in the $163.1 billion system.
Real estate investments represent an allocation of 8% to 9% of total system assets, according to the RFP.
The new contracts will run for three years; and the pension system has the option of four, one-year extensions, according to the RFP.
Registration is required to access the RFP. Proposals are due by 4 p.m. EDT Aug. 25. Interviews will be conducted in September and October; contracts will be awarded in November or December; and the new contracts take effect Jan. 1.