New York State Teachers' Retirement System, Albany, issued an RFP for a non-discretionary real estate consultant.
The $137.9 billion pension fund will make "one or more awards," and the contract term will be for one year, with options to renew for up to four successive years subject to annual approval by the pension system's governing board and "mutual consent of the parties," the RFP said.
The RFP is available on the pension fund's website. Responses by candidates are due Sept. 10 at 11 a.m. EDT. Interviews with semifinalists will take place from mid-October to mid-November. The finalist's presentation to the board will take place Jan. 27, and the contract will be awarded on or about Jan. 31.
Requirements for the consultant include preparing "a detailed written evaluation for equity and debt real estate fund investment opportunity as selected by NYSTRS staff" for consideration by the board, as well as preparing "a detailed written evaluation for co-investment opportunities presented to NYSTRS," the RFP said.
The consultant will also be required to prepare "a detailed written evaluation for prospective real estate separate account managers including equity, debt, REIT, and CMBS investment managers," the RFP said.
The RFP is for a real estate consultant to supplement the work of Callan, which remains the system’s primary real estate consultant, pension system spokeswoman Heidi Brennan said in an email.
