CTPF retains the right to choose the Respondent(s) that best aligns with CTPF’s needs and budget. A. Scope of MWDBE Private Real Estate Investment Manager Services 1. The Investment Manager will provide CTPF with either a core or non-core private real estate strategy according to the following guidelines: a. Minimum fund/strategy size: $200million b. Capital investment strategy: Debt and/or Equity c. Subscription period: Open until end of 2025 or later; We seek responses from all qualified candidates. The total mandate size will be approximately $30 - $50 million. 2. The Investment Manager will have independent discretionary authority with respect to the investment of that portion of assets managed by the Investment Manager. 3. The Investment Manager shall provide monthly, quarterly and annual performance (gross and net of fees) and portfolio valuation reports in addition to annual audited financial statements to CTPF and Callan. 4. The Investment Manager shall adhere to the due diligence responsibilities as detailed in the Subscription Document, Limited Partnership Agreement, Limited Liability Corporation Agreement, or Investment Management Agreement and related side letters, as applicable. 5. The Investment Manager shall abide by performance standards and criteria. 6. The Investment Manager will document all investment activity with CTPF’s master custodian in accordance with the usual and customary standards of practice and confirm all executed transactions from custodial account records; CTPF’s current master custodian is Bank of New York Mellon.
