Connecticut Retirement Plans and Trust Funds’ (CRPTF) search for a real estate consultant has been shortlisted to Callan, Meketa Investment Group and NEPC Investment Consulting after receiving responses from 10 candidates.

Its contract with The Townsend Group ended in February and the pension fund is now looking for a replacement to advise on real estate investments for five years.

The pension fund said in a meeting document that a final decision will be made later this year.

Meketa, which acts as CRPTF’s general investment consultant, is acting as an interim real estate consultant.

CRPTF invests both in core and non-core real estate and has a portfolio valued at $2.2bn. It has a 7% target allocation to the asset class.