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Sign in Sign up for a FREE subscriptionWorcester Retirement System launches RFP for real estate manager
The Worcester (Mass.) Retirement System has issued an RFP seeking a manager of a closed-end noncore real estate fund.
The System will only consider experienced managers of closed-end noncore real estate funds. Open-ended first-time funds, public equity strategies, secondary and fund-of-funds investments will not be considered.
Under the mandate, Worcester is planning to commit $15 million with the chosen manager.
As of February, the pension fund had a 7.6 percent allocation to the real estate asset class.