Ohio Bureau of Workers' Compensation, Columbus, is searching for a real estate investment consultant, spokeswoman Kimberly Norris said in an email.
The bureau, which oversees a total of $23.2 billion in state insurance assets including the $20.4 State Insurance Fund, issued an RFP because it has decided to change the nature of its real estate investments. Ms. Norris would not provide further information.
NEPC is the current consultant, the bureau’s first dedicated specifically to real estate, originally hired in 2021. Ms. Norris said NEPC will have to determine whether to rebid.
As of Dec. 31, the actual allocations to core real estate, core-plus real estate and value-added real estate were 9.2%, 4.6% and 1.4%, respectively.
The RFP is available on the state of Ohio's procurement website. Proposals are due at 2 p.m. EDT on April 21. A selection is likely to take place in July.
