The USD 16.7 billion retirement system has selected ORG Portfolio Management as its real estate investment consultant, after having narrowed the search down to five finalists. Following the creation of a long-term target allocation to real estate of 10% in June 2009, the appointment takes TMRS a step further to reaching its targeted 3% allocation to the real estate asset class by the end of 2010.
In September 2009, following the advice of its general consultant R.V. Kuhns and Associates, TMRS began searching for a real estate consultant to assist with setting up its real estate investment program. R.V. Kuhns assisted TMRS with the search process.
ORG will have partial discretion over the real estate investments made by TMRS, although the pension fund will make all final investment decisions based on ORG’s recommendations. A specific real estate investment strategy has not been set but TMRS and ORG have begun developing an investment policy that will clarify and set out real estate investment objectives.
ORG Portfolio Management was founded in 1999 and provides real estate portfolio management services to institutional clients as a subsidiary of ORG Real Property, offering both discretionary and non-discretionary services. ORG can assist its clients with aspects of portfolio management, manager search and selection, and portfolio monitoring.
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