Watertown (Mass.) Contributory Retirement System is looking to commit up to $2 million to a distressed/opportunistic real estate investment fund.
Fiduciary Investment Advisors, investment consultant to the $182 million defined benefit plan, is assisting with the search. Core-oriented and/or value-added strategies will not be considered.
The search is being conducted so that the board can evaluate options to complement its existing real estate exposure, said Richard A. Carey, associate research analyst at Fiduciary Investment Advisors, in an email.
The RFP is available on Fiduciary Investment Advisors' website. Proposals are due by 4 p.m. EST on Dec. 20. A selection date has not yet been determined, said Mr. Carey.