Haverhill (Mass.) Contributory Retirement System is looking to commit up to $7 million to value-added real estate funds.
The $264 million pension fund is seeking proposals from managers with value-added funds that invest in U.S. properties only, according to an RFP posted on the website of investment consultant Wainwright Investment Counsel, which is assisting with the search.
"Funds that invest primarily in real estate overseas, development products and land funds will not be considered in this procurement. Core funds and REIT funds will also not be considered for this search," according to the RFP.
The pension fund has a target allocation to real estate of 11.5%.
The RFP is available on Wainwright Investment Counsel's website. Proposals are due at 2 p.m. EDT on May 31. A timeline for a selection was not provided.
David Van Dam, the pension fund's administrator, could not be immediately reached for further information.