Northwest Florida State College Foundation, Niceville, is searching for a money manager, said Serena Brown, foundation accountant/operations manager.
The $46 million foundation issued an RFP because of the college's policy to put services up for bid every six years, Ms. Brown said. Current manager McGovern, O'Dell & Associates is invited to rebid.
The target allocation for the foundation's endowments pool is 30% fixed income; 12% each domestic large-cap growth and domestic large-cap value equities; 10% alternatives; 8% international developed markets equities; 6% each domestic midcap growth and domestic midcap value equities; 5% cash and cash equivalents; 4% each domestic small-cap growth and domestic small-cap value equities; and 3% emerging markets equities. An actual allocation was not available.
The RFP is available on the college's purchasing website. Proposals are due at 2 p.m. CST on March 2. A decision is expected on April 4.