Key Takeaways
- • Taunton Contributory Retirement System has issued an RFP for open-end core and core-plus real estate managers totaling approximately $33 million ($16.5 million per mandate), with a proposal deadline of May 22, 2026 at 12:00 PM ET.
- • The pension fund manages approximately $500 million in total assets and is conducting this search under the guidance of investment consultant Kevin Condy, CFA, at Dahab Associates.
- • Only open-ended real estate products will be considered for this mandate, with final investment decisions to be made by the Board of Trustees following recommendations from the investment consultant.
- • Proposals should be submitted via www.dahab.com/#searches, with interested managers able to contact Kevin Condy directly at 631.665.6181 or [email protected] for additional information.
Summary
The Taunton Contributory Retirement System, a Massachusetts public pension fund with approximately $500 million in total assets, has launched a competitive search for core and core-plus real estate investment managers. The RFP, published on April 9, 2026, targets the allocation of roughly $33 million in capital, divided equally at $16.5 million per manager selection. This initiative reflects the pension fund's strategic efforts to diversify its real estate holdings across multiple external managers operating in the open-ended fund structure.
The search is being managed by Dahab Associates, with Kevin Condy, CFA, serving as the lead investment consultant overseeing the evaluation process. The RFP explicitly limits eligible proposals to open-ended products, excluding closed-end or interval fund structures. This constraint narrows the universe of potential managers and signals the fund's preference for liquidity and ongoing capital deployment capabilities typical of core and core-plus strategies.
The governance structure ensures institutional rigor in the selection process. Kevin Condy and the investment consultant team will evaluate all submitted proposals and provide formal recommendations to the plan. However, final investment authority rests with the Taunton Contributory Retirement System's Board of Trustees, maintaining appropriate separation between advisory guidance and fiduciary decision-making. Interested real estate managers have until May 22, 2026 at 12:00 PM ET to submit proposals through the designated RFP portal. Managers requiring clarification on mandate details or submission procedures can contact Kevin Condy at Dahab Associates.
The search is being managed by Dahab Associates, with Kevin Condy, CFA, serving as the lead investment consultant overseeing the evaluation process. The RFP explicitly limits eligible proposals to open-ended products, excluding closed-end or interval fund structures. This constraint narrows the universe of potential managers and signals the fund's preference for liquidity and ongoing capital deployment capabilities typical of core and core-plus strategies.
The governance structure ensures institutional rigor in the selection process. Kevin Condy and the investment consultant team will evaluate all submitted proposals and provide formal recommendations to the plan. However, final investment authority rests with the Taunton Contributory Retirement System's Board of Trustees, maintaining appropriate separation between advisory guidance and fiduciary decision-making. Interested real estate managers have until May 22, 2026 at 12:00 PM ET to submit proposals through the designated RFP portal. Managers requiring clarification on mandate details or submission procedures can contact Kevin Condy at Dahab Associates.
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