Massachusetts Water Resource Authority Employees’ Retirement System, Chelsea, is looking to commit up to $10 million to real estate debt.
The $720 million pension fund has issued an RFP after deciding to add exposure to real estate debt funds within its real estate asset class, said Carolyn Russo, executive director.
All current and/or new managers are welcome to bid for the services, said Russo.
As of Sept. 30, the pension fund’s actual allocation to real estate was 8.4%; the target is 10%.
The RFP is available on the website of investment consultant NEPC, which is assisting with the search. Proposals are due by 5 p.m. EST on Nov. 13. A timeline for a selection was not provided.
