Watertown (Mass.) Contributory Retirement System is looking to commit between $5 million to $8 million to one or more open-end core-plus real estate funds.
The $270 million pension fund has issued an RFP on the website of investment consultant Fiducient Advisors, which is assisting with the search.
The RFP does not disclose the reason for the search, but municipal pension funds in Massachusetts typically issue RFPs to comply with the Massachusetts Public Employee Retirement Administration’s requirement to put services up for bid every seven years. The pension fund last conducted a search for core-plus real estate managers in 2017.
Kayla Sheehan, the pension fund’s board director, could not be immediately reached for further information.
The RFP is available on Fiducient Advisors’ website. Proposals are due by 4 p.m. EDT on April 9. A selection is expected within six months of the proposal due date, according to the RFP.
