Northern Alberta Institute of Technology, Edmonton, is searching for an investment manager for its C$29 million (US$28.5 million) endowment funds, according to an RFP posted on the Alberta Purchasing Connection, a provincial procurement website.
The manager will have discretion on how to invest assets within specified asset allocation ranges. The current manager could not be learned by press time.
The selected firm will also oversee cash, other short-term and long-term investments that total about C$254 million, including the endowment assets. The investment portfolio is all actively managed, according to the RFP.
The RFP is available on the Alberta Purchasing Connection. Proposals are due at 2 p.m. MDT July 24. A hiring date was not specified.
NAIT spokesman Frank Landry said no one was available to answer additional questions.