Danville (Va.) Regional Foundation is searching for managers to run $40 million in domestic fixed income, $20 million in active international equities and $10 million in a real estate property fund, said Barry Bryant, consultant with investment consultant Dahab Associates. The fixed-income portfolio will probably be passive and benchmarked to the Lehman Aggregate Bond index. The international equity mandate will probably be a commingled fund that is either style neutral or a fund that can change styles, and the real estate investment will likely be a core or core-plus commingled fund. Foundation officials anticipate hiring one manager for each portfolio, Mr. Bryant said.
The foundation is being formed from proceeds of the roughly $200 million sale of the Danville Regional Medical Center to LifePoint Hospitals.
The three RFPs are available on Dahab's website at www.dahab.com. Proposals for the fixed-income, international equity and real estate searches are due Nov. 30, Dec. 7 and Jan. 10, respectively. Final presentations for the three searches are expected in February.
Aubrey Dodson, executive director of the foundation, referred all questions to Dahab.
