Boston Retirement System is looking to allocate an undisclosed amount to a private real estate debt fund.
Both open-end and closed-end funds will be considered. Closed-end fund managers must have raised at least two prior funds and have a final close of no earlier than Dec. 31 to be considered. Managers of open-end funds must have at least a three-year track record.
The $5.1 billion system had an allocation of 9% to alternatives and 8% to real estate as of Dec. 31, according to its latest financial statement on its website.
NEPC, investment consultant for the system, is assisting with the search.
Timothy J. Smyth, executive officer for the Boston system, and Kiley Fischer, NEPC investment consultant, were not immediately available to provide additional information.