An institutional investor advised by Courtland Partners is considering awarding a $200m (€179m) global mandate to invest in real estate investment trusts (REITs).
Courtland Partners has issued a request for information (RFI), inviting investment managers to compete for the chance to manage a long-only REIT strategy.
According to the RFI, the investor has not decided whether to pursue an “international” or “global” strategy. Courtland Partners said managers were therefore encouraged to prepare separate responses for each.
The RFI said the investor would only consider long-only REIT strategies and was not interested in US-only strategies.
It also ruled out strategies that incorporate shorting, use leverage, investing in REIT debt, preferred equity and convertibles.
Strategies would need to have commenced before the end of 2011 and have at least $200m in assets under management.
Investment managers have by June 12 to respond.