Tennessee Consolidated Retirement System, Nashville, is searching for core real estate managers to run about $1.8 billion, confirmed Michael Brakebill, chief investment officer.
The $36.6 billion pension fund's policy is to put services out to bid every five years, Mr. Brakebill said in a telephone interview.
The allocation to real estate now is about 5% of total assets.
The seven current real estate managers are all invited to rebid. They are Capri Capital Partners, Clarion Partners, Cornerstone Real Estate Advisers, J.P. Morgan Investment Management, RREEF America, TA Associates Realty and UBS Realty Investors.
Proposals are due Sept. 1. A decision is expected by Nov. 30.