Plymouth County (Mass.) Retirement Association has launched a search for managers of closed-end, noncore real estate funds.
As part of the mandate, Plymouth is also planning to commit $12 million to $18 million, according to a request for proposals (RFP) listed on the site of the fund’s investment manager, Meketa Investment Group.
The RFP noted that it will only consider proposals from experienced managers of closed-end, noncore real estate funds. Open-end first-time funds and public equity strategies will not be considered, as well as secondary and fund-of-funds investments.
As of April 30, Plymouth had $40.7 million or 4.2 percent of the total portfolio invested in noncore real estate, according to a June investment report from Meketa. An annual pacing study conducted by Meketa for Plymouth’s illiquid asset classes, recommends the pension fund commits a
