Alameda County hires new real estate consultant

The Alameda County Employees’ Retirement Association has hired Callan Associates as its real estate consultant, according to Agnes Macadangdang, administrative specialist in the investments department.

The $6.8 billion pension fund issued an RFP for a real estate investment consultant in September 2014 after the incumbent consultant, The Townsend Group, gave a notice of voluntary termination in August 2014. Finalists for the search included The Townsend Group and Courtland Partners.

An inconclusive vote at the pension fund’s March board meeting pushed the decision to the April meeting, when the decision to hire Callan Associates was made.

ACERA’s target allocation to real estate is 6 percent; its actual allocation to the asset class is 6.6 percent.