The Iowa Public Employees’ Retirement System (IPERS) has launched a search for real estate debt fund managers that would be responsible for investing $200 million in capital that the pension system plans to commit to the strategy. IPERS has issued a request for proposals (RFP) seeking managers involved with private commercial real estate debt originations, acquisitions, financings and dispositions. These investments primarily will consist of mezzanine debt, B-notes and first mortgages, but they also may include some preferred equity. IPERS will consider any manager that currently is raising a fund or plans to raise a fund within the next six to nine months. Firms are required to have a minimum track record of five years and to have invested at least $500 million on behalf of one or more predecessor funds and/or invested at least $750 million on behalf of one or more separate accounts as of 30 June.