Investors - MARCH 28, 2013

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FSBA searches for real estate and strategic investments consultant

by Andrea Waitrovich

The $162.3 billion Florida State Board of Administration (FSBA) has issued an RFP for a real estate and strategic investments consultant, according to an invitation to negotiate issued Wednesday.

The Townsend Group is the pension’s current real estate consultant. Its contract expires June 30, 2013.

FSBA provides investment management of assets of the Florida Retirement System Pension Plan. Its real estate portfolio had a market value of $9.6 billion as of Sept. 30, 2012. The real estate asset class is bifurcated into two separate portfolios: the principal investments portfolio and the externally managed portfolio.

Principal investments comprises approximately 50 percent of the total real estate portfolio and includes those investments where FSBA staff retains primary discretion

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