BOSTON--Real estate investment firm Security Capital Group has identified three contenders to handle the launch of its mutual fund division.
The shops are: Allen & Gerritsen, Watertown, Mass.; Cohn Godley Norwood, Boston; and business-to-business/financial specialist Doremus, New York. Boston consultancy Pile and Co. confirmed the list but would not elaborate.
The client is looking to target brokers who might want to offer its mutual funds to their investors. Initial ads, backed by $3-5 million, are expected to appear mainly in print, sources said.
CGN has worked for Charles Schwab, which may offer SCG's funds through Schwab brokers. A&G works for State Street Bank.
A decision from SCG in Chicago is expected this month. The client did not return calls. -- David Gianatasio