St. Louis Firefighters' Retirement Plan is searching for a core real estate manager to run between $5 million and $10 million.
The $145 million pension fund issued an RFP for a core real estate manager; investment consultant Dahab Associates is assisting with the search.
The RFP is available on Dahab's website. Proposals are due by 5 p.m. EST on Dec. 8.
The pension fund currently has one core real estate manager, and it is looking to add an additional real estate manager to diversify the current real estate allocation, which has a target of 10%, said Steven Roth, managing director and chief investment officer at Dahab.
"The funds for this additional allocation are currently set aside and invested in the core fixed-income allocation," he added. "When the core real estate search is completed, the funding will come from those assets set aside in the core fixed-income allocation."
Roth added that the current core real estate manager is Principal Real Estate Investors, and the firm will not be submitting a proposal as the pension plan is seeking to add diversification to the existing allocation.