Searches and Hires

Cook County plans looking for real estate managers

Cook County Employees' and Officers' Annuity & Benefit Fund and the Cook County Forest Preserve District Employees' Annuity & Benefit Fund, both in Chicago, are searching for at least one commingled core or core-plus real estate manager.

The mandate size has not yet been determined, a county spokeswoman said.

The pension funds have a combined $10.1 billion in assets, with a 9% strategic target to real estate.

Funding will come from reducing a passive real estate investment trust account managed by Russell Investments, the spokeswoman said. The size of that account was not provided. No managers will be terminated, she said.

The RFP is on the funds' website. Proposals are due at 3 p.m. CDT Aug. 17. A selection date has not been set, according to the RFP.

Callan, the funds' investment consultant, is assisting.