Quincy (Mass.) Contributory Retirement System is looking to commit a total of $5 million to $7 million to closed-end non-core real estate funds.
The $790 million pension fund is seeking proposals from managers of closed-end U.S. value-added funds with a minimum fundraising target of $350 million, according to an RFP posted on the website of investment consultant Meketa Investment Group, which is assisting with the search.
The pension fund will not consider funds of funds or secondary funds, according to the RFP.
As of Dec. 31, the pension fund's actual allocation to real estate was 10.9%; the target is 10%.
The RFP is posted on Meketa's website. Proposals are due at noon EDT on March 24. A timeline for a selection was not provided.
Brad Croall, board director, could not be immediately reached for further information.