The Boston Retirement System (BRS) is seeking an investment-management firm to manage a real estate mandate for the pension fund’s $6 billion defined benefit pension fund.
The search aims to fill a total of $150 million in potential real estate commitments across value-add, opportunistic and debt strategies.
To qualify, candidates must be raising a closed-end, private real estate fund, in addition to other criteria. BRS said preference will be given to candidates that have raised at least two prior funds for the proposed strategy, however, this is subject to the board’s discretion. The final close date of the proposed fund must be no earlier than first quarter 2023, and it is preferred that the proposed fund is raising at least $100 million, although lower amounts may be considered.
The due date to submit proposals is July 26. For more information, click
