Searches and Hires

Northwest Florida State College Foundation rehires money manager

Northwest Florida State College Foundation, Niceville, rehired McGovern, O'Dell & Associates as its sole money manager, said Serena Brown, foundation accountant/operations manager, in an email.

The $46 million foundation issued an RFP in February because of the college's policy of putting services up for bid every six years. There were no other finalists.

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.