BRS issues value-add and opportunistic RFP

The US pension fund seeks to fulfill its 2024 real estate pacing plan commitments of $75m.

-

Name: Boston Retirement System
Headquarters: Boston, US
AUM: $6.8 billion
Allocation to real estate: 9.4%

Boston Retirement System has issued a request-for-proposal (RFP) for real estate investment management firms through its investment consultant, NEPC. The institution will be investing across two closed-end strategies: value-add and opportunistic. The RFP noted that BRS will aim to invest $75 million across the two strategies.

The public pension fund requested the following minimum qualifications for private real estate funds:

  • The fund must be a closed-end private real estate fund; open-end and evergreen structures will not be considered.
  • The close date of the proposed fund must be no earlier than July 31, 2024.
  • It is preferred that the proposed fund is raising at least $200 million.
  • Preference will be given to managers that have raised at least two prior funds with the proposed strategy.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.