Searches and Hires

Essex Pension Fund seeks global real estate manager

Essex Pension Fund, Chelmsford, England, is searching for a global real estate manager to run a £250 million ($324 million) allocation, according to a notice on European procurement website Tenders Electronic Daily.

Consultant Hymans Robertson is running the search process for the £6 billion pension fund.

The manager must have a global offering with exposure to private and public real estate markets. Allocations to country-focused and regionally focused strategies will be managed by the chosen manager. Real estate debt and listed real estate may be allowed but will not represent more than 20% of the mandate.

Eligible candidates must have at least £1.5 billion invested in real estate globally, with at least £500 million each in Europe and North America, and £300 million in the Asia-Pacific region.

The successful manager must have at least three experienced real estate professionals based in each of the three regions.

Proposals are due by 10 a.m. Greenwich Mean Time on Dec.13.

A spokesman could not be reached to provide additional details. Hymans Robertson also could not be reached.