JUNE 4, 2014

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Colorado PERA seeks separate account manager

by Larry Gray

The $43 billion Colorado Public Employees’ Retirement Association has issued an RFP for a real estate separate account adviser. Colorado PERA, which currently has a 7 percent target and actual allocation to real estate, notes in the RFP that multiple firms could be hired. The separate account program currently represents approximately 20 percent of the pension plan’s $3.1 billion real estate portfolio and targets all risk profiles (core, value-add, opportunistic).

The RFP notes that selected firms will be responsible for overseeing all or a portion of Colorado PERA’s direct real estate investment portfolio, which may include assuming responsibility for certain assets already managed on behalf of Colorado PERA by other advisers. These investments may include, but not be limited to, joint ventures with operating partners or wholly owned commercial property.

The point of contact for the RFP is portfolio mana

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