Virgin Islands foundation casts net for money manager for $10 million

Foundation for the Reichhold Center for the Arts at the University of the Virgin Islands, St. Thomas, is searching for an investment manager to run its $10 million portfolio, confirmed Dionne Jackson, executive director of the foundation.

The foundation, which is 95% invested in equities, does not currently have an external investment manager, Ms. Jackson said in an e-mail. She added that it is anticipated that the foundation board will develop an investment policy following consultation with the manager.

The RFP can be obtained by e-mailing Ms. Jackson at Proposals are due June 19. Finalists will meet with the board on July 2 and a hiring decision is expected on July 12.