Bethlehem (Pa.) Aggregated Pension Plan is searching for a real estate manager to run $5 million to $10 million in a private, state government-leased real estate strategy.
Morrison Fiduciary Advisors, investment consultant for the $157 million pension fund, is assisting with the search.
Hedge funds, infrastructure funds, private core real estate or real assets funds will not be considered.
The search is being done to increase the plan's real estate allocation, said Robert Bulas, senior consulting analyst at Morrison Fiduciary Advisors, in an email. This will be a new manager for the fund; no manager is being replaced. Funding will come from general rebalancing.
The RFP is available on Morrison Fiduciary Advisors' website. Proposals are due by 2 p.m. EDT Sept. 12. A selection is expected to be made sometime in the fourth quarter.