Searches and Hires

California State University San Bernardino foundation calls for investment consultant

California State University San Bernardino Philanthropic Foundation is searching for an investment consultant for its $40 million endowment, said an RFP posted on the state of California's procurement website.

The foundation is seeking an investment consultant to review and make recommendations regarding its asset allocation, review and select money managers, and report regularly to the foundation's board of directors. The RFP also noted the consultant will provide custodial bank services.

The name of the current consultant and whether the firm is eligible to rebid could not be immediately learned.

The endowment's target allocation is: 25% each, domestic large-cap equities and fixed income; 20% international equities; 10% alternatives; 7.5% domestic small-cap equities; 5% emerging markets equities and 2.5% each, commodities/natural resources, private real estate and public real estate.

The RFP is posted on the state's procurement website. Registration is required. Proposals are due on Aug. 27. A notification of intent to award is scheduled for Sept. 4.

Marie Torres, interim manager of procurement, would not provide further information by press time.