US - The US$13.1bn San Francisco Employees Retirement System (SFERS) will tender for real estate consulting services, Global Pensions can reveal.
SFERS deputy investments director David Kushner said: “We are in the process of issuing a request for proposal for a real estate consultant. It should hopefully go out in the next day or so.”
The fund’s current contract with the Townsend Group is up for renewal in the summer, and the announcement would be part of a periodical review, said Kushner.
SFERS currently has $1.2bn of equity invested in real estate, which was slightly below the fund’s target weight, said Kushner. “But we are reviewing opportunities as they become available,” he said.
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