Rock Valley College, Rockford, Ill., is searching for at least one investment manager for its $9.5 million foundation, confirmed Michael Papp, interim director of business services.
Incumbents Savant Capital Management and Alpine Bank & Trust are invited to rebid. Mr. Papp said the foundation does a review every five years.
The foundation has a target allocation of 70% equities and real estate, and 30% fixed income.
The RFQ is available on the college's website. Proposals are due at 1 p.m. CST Jan. 15. Finalist interviews are scheduled for mid-February with a hiring decision expected in March.