Quincy (Mass.) Contributory Retirement System is looking to commit about $12 million to an open-end core real estate fund.
Meketa Investment Group, investment consultant to the $290 million pension plan, is assisting with the search.
The search is being conducted because state regulations require contracts to go out to bid every seven years, said Edward Masterson, executive director of the pension fund. Incumbent UBS Realty Investors is invited to rebid.
Only proposals for well-diversified funds — both geographically and by property type — with a minimum of $1 billion and more than 30 properties will be considered. Real estate debt strategies will be considered, but secondaries and funds of funds will not.
The system has a 10% target allocation to real estate.
The RFP is available on Meketa's website. Proposals are due by 3 p.m. EDT on Sept. 28. A selection date was not disclosed.