Specifications include, but are not limited to: The New Bedford Retirement Board is conducting a search for broadly diversified core open-end real estate Commingled/CIT strategies (no mutual fund). The total mandate will be approximately $35 million split between multiple investment managers. The Board currently utilizes two core open-end real estate manager and the search is being conducted per M.G.L Ch. 32, which requires the Board to reevaluate its existing managers on a periodic basis (required every 7 years). All investments made by the Board are subject to the provisions of the Massachusetts General Laws, Chapter 32 and the rules and regulations of the Public Employees Retirement Administration Commission (PERAC). The selected investment manager(s) must have familiarity and agree to comply with all applicable laws and PERAC regulations. The Board reserves the right to cancel or reject in whole or part any or all proposals in the best interest of the Retirement System.
