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 optimize returns by focusing exclusively on real estate debt and opportunistic funds. The system plans to commit approximately fifty million dollars in total to these selected real estate strategies. The proposed fund strategy must fall strictly within real estate debt or opportunistic real estate. The agency will give preference to candidates that have successfully raised at least one prior fund for the proposed strategy, though the board retains ultimate discretion over this preference. Eligible bidders must be onshore organizations based solely in the United States. The selected firm will perform all investment management services offsite at the vendor's own office location. The agency is currently looking for proposals to determine the budget and fee structures for this mandate. The source document does not specify key dates or detailed evaluation criteria beyond the stated fund strategy and prior fundraising preferences.