Northern LGPS, Droylsden, England, is searching for up to 12 U.K. real estate managers and up to 12 U.K. real estate consultants for its £2 billion ($2.5 billion) real estate allocation, a spokeswoman said.
The £46 billion pool of local government pension schemes will appoint at least four managers and consultants.
The contracts will span seven years each and will start Sept. 1.
"This framework is a major milestone in enabling Northern LGPS to take direct property investment forward, following our success in managing risk and delivering strong returns in other alternative asset classes," said Gerald Cooney, chairman of Northern LGPS, in a news release.
Hymans Robertson is assisting with the search. Proposals are due by 5 p.m. British Summer Time on July 3 and can be submitted via procurement platform Tenders Electronic Daily.