Murrysville, Pa., is searching for a real estate manager to run $2 million in a private, state government-leased real estate strategy for its Non-Uniform and Police pension funds.
The pension funds, which have combined assets of $25 million, issued an RFP to further diversify its real estate portfolio, said Robert Bulas, senior consulting analyst at Morrison Fiduciary Advisors, the pension funds' investment consultant, in an email.
The pension fund's real estate target is 10%. Hedge funds, infrastructure funds, private core real estate and other real assets funds will not be considered.
The RFP is available on Morrison Fiduciary Advisors' website. Proposals are due at 2 p.m. EDT on Sept. 12. Mr. Bulas said a decision will likely be made in the fourth quarter.