Five Finalists Present to Mass Water in Real Estate Debt Manager Search

The Massachusetts Water Resources Authority Retirement System heard presentations from five candidates for its real estate debt manager search during the pension’s board meeting on December 19, 2024. 

According to recently published materials related to its meeting last year, ACORE Capital, Bridge Investment Group, PCCP, RRA Capital, and BGO each presented their real estate debt strategies following invitations approved by the pension board in November. Dakota previously reported on November 22, 2024, that Massachusetts Water received 13 responses to its real estate RFP, including from Benefit Street Partners, CenterSquare Investment Management, Ellington Management Group, Green Cities Investment Management, HPS Investment Partners, MetLife Investment Management, Nuveen Real Estate, and The Palisades Group. The search is for a potential $10M allocation in the portfolio, with consultant NEPC assisting in discussions and the selection process.

Massachusetts Water targets a 10% allocation to real estate for the current year, out of an overall portfolio of $739M in plan assets, as of November 30, 2024. 

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Written By: Dakota

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