Boston Retirement System is looking to commit a total of $150 million to real estate funds.
The $6.4 billion system is searching for managers with closed-end real estate funds that will hold final closes no later than the first quarter of 2023, according to a notice posted on the website of NEPC, the pension fund's investment consultant, which is assisting with the search.
The system will consider debt, opportunistic and value-added funds, according to the notice.
As of Feb. 28, the pension fund's actual allocation to real estate was 9%; the target is 10%.
Further information on the search is available on NEPC's website. Proposals are due at 2 p.m. EDT on July 26. A timeline for a selection was not provided.
