Investors - SEPTEMBER 27, 2016

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Massachusetts-based pension searches for value-added real estate managers

by Jody Barhanovich

The $290 million City of Quincy (Mass.) Contributory Retirement System has launched a search for real estate investment managers. The pension plan intends to allocate $10 million to a closed-end value-added real estate strategy.

Meketa Investment Group, investment consultant for the pension fund, is assisting with the search.

Only proposals for experienced managers of closed-end, value-added real estate portfolios will be considered. Open-end funds, first-time funds, public equity funds and sector-specific strategies will not be considered.

The RFP is available on Meketa’s website, and proposals are due Oct. 11. A selection date was not disclosed.

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