Chester County Employees' Retirement System, West Chester, Pa., is searching for open-end core real estate funds to which it plans to commit about $25 million.
The $554 million pension fund has issued an RFP for real estate managers because the board is considering real estate as a new asset class, said Steven Roth, chief investment officer at Dahab Associates, the pension fund's investment consultant.
A funding source has yet to be determined. The pension fund is currently in the process of determining a new asset allocation, Mr. Roth said.
Dahab Associates was hired as the pension fund's new investment consultant earlier this year following an RFP. The firm is assisting with the search.
The RFP is available on Dahab Associates' website. Proposals are due at 5 p.m. EDT on Sept. 8. A timeline for a selection has yet to be determined.
