Investment Management Firms to Manage A Real Estate Mandate Services

The Boston Retirement System is seeking qualified investment management firms to manage a real estate mandate for its eight point seven billion dollar defined benefit pension fund. The agency is attempting to diversify its portfolio and maximize returns through targeted real estate investments. This search focuses exclusively on real estate debt and opportunistic funds, with the agency planning to commit approximately fifty million dollars in total to these strategies. Eligible candidates must be onshore organizations based solely in the United States. The agency will give preference to investment firms that have successfully raised at least one prior fund for the proposed strategy, though the Board retains ultimate discretion over this preference. The selected investment firm must perform all work offsite at its own office location. The agency is currently looking for proposals to determine the budget and fee structures for these services. The source document does not specify key dates or explicit evaluation criteria beyond the preference for established funds and the requirement for United States residency.