Westland (Mich.) Police and Fire Retirement System is searching for a value-added real estate manager to run $3 million for the $165 million pension fund.
The search is being conducted to fill out the plan's asset allocation, said Steven Roth, chief investment officer of Dahab Associates, the system's investment consultant. There is no incumbent manager. Funding is expected to come from equities.
The RFP is available on Dahab's website. Proposals are due 5 p.m. EST Nov. 27. A timetable for selecting a manager has yet to be determined.
The system has a target allocation of 7.5% to real estate, said Mr. Roth.