Searches and Hires

University of Washington casts net for investment consultant

University of Washington, Seattle, is searching for an investment consultant to assist in the development of an RFP for a custodian for the University of Washington Investment Management Co.

The university is searching for a consultant to perform an evaluation of UWINCO and the university's finance department's custodian oversight, suggest improvements and perform a cost/benefit analysis of custody options, according to an RFP posted on the state of Washington's procurement website.

That evaluation would be completed by December. The chosen firm would then prepare and issue an RFP for a custodian by February 2019, interview finalists in April 2019, and finalize and execute a contract by July 2019.

Current firms providing these services could not be immediately learned. The University of Washington Investment Management Co. oversees the money management of the university's $3.4 billion consolidated endowment fund and $1.9 billion in operating, reserve and other funds.

As of March 31, the consolidated endowment fund's actual asset allocation was 35% developed markets equities, 20% emerging markets equities, 16% absolute return, 11% each fixed income and private equity, 5% real assets and the rest in opportunistic strategies.

The RFP is available on the state of Washington's procurement website. Registration is required. Proposals are due at 5 p.m. PDT on Sept. 27. A decision is expected on Oct. 12.

Keith Ferguson, UWINCO's chief investment officer, could not be immediately reached to provide further information.