Taunton (Mass.) Contributory Retirement System rehired Intercontinental Real Estate Corp. as its core-plus real estate manager, said Paul Slivinski, executive director.
The $225 million pension fund has $16 million invested in the manager's open-end fund Intercontinental U.S. REIF.
The pension fund issued an RFP in May to comply with Massachusetts state law requiring contracts to be put out to bid every five years.
Separately, the pension fund's board has interviews on Wednesday with finalists in its other searches for a core real estate fund for a $16 million investment and a real estate investment trust portfolio targeted for $7 million.
BlackRock, incumbent Invesco and TA Associates are the core real estate finalists, and Cohen & Steers and RhumbLine Advisers are the REIT finalists. Invesco was also the incumbent manager for the REIT portfolio.
Investment consultant Dahab Associates assists with all searches.
