University of Houston roars ahead with custodian search

University of Houston System is searching for a global custodian for its endowment fund and operating funds, according to an RFP posted on the Texas state procurement website.

The endowment fund has about $520 million in assets and is allocated among 54 investment funds, according to the RFP. The operating funds total $458 million.

The university system does not now have a securities lending program and does not plan on establishing one.

The RFP is available on the state procurement website. Proposals are due at 3 p.m. CST Nov. 26. Finalists will be named Dec. 17 and will make presentations to the board of regents on Jan. 18. A hiring decision is expected on Jan. 25.

Christopher Burton, director of purchasing, did not return a telephone call by press time.