8 Virginia Commonwealth University pools seek investment services
By Kevin Olsen | August 30, 2012 3:40 pm
Virginia Commonwealth University, Richmond, is searching for firms to provide investment advisory services for the university, VCU Health System Authority and six separate foundations, according to an RFP posted by the university.
The school will consider outsourced CIO, investment manager and investment consultant services, but “may focus on the outsourced CIO model,” according to an RFP addendum.
VCU and the health system have a combined $1.12 billion in investible assets. The six foundations have a combined $783 million in assets, as of June 30, 2011. Each of the eight entities could select more than one provider.
Firms can submit proposals for one, any or all of the following categories: cash and short-term investments, midterm investments, long-term investments, financial advisory services, and financial modeling and analytic support. Each VCU entity maintains a separate portfolio and investment policy.
The RFP, financial statements and addendums are available on the state procurement website.
Proposals are due at 11 a.m. EDT Sept. 14. A hiring timetable was not specified in the RFP.
Jackie Colbert, VCU purchasing manager, and Thomas Burke Jr., executive director of the VCU Foundation, did not return telephone calls for additional information.