Stratford (Conn.) Employees' Retirement System is searching for managers to run $50 million total in real estate and global tactical asset allocation, confirmed Steven Roth, director of manager research at Dahab Associates, investment consultant to the pension plan.
The pension fund is looking to allocate $25 million to each strategy. The real estate search is for open-end core or core-plus managers. Mr. Roth said more than one manager could be hired for each search and that both core and core-plus managers could be hired. Real estate managers can submit proposals for both strategies.
It will be the pension plan's first investments in both asset classes.
Funding will come from rebalancing and an “infusion of cash” from a large contribution from the town or from pension obligation bonds, Mr. Roth said. Dahab is not releasing the asset size of the plan because of the impending influx of cash.