Fulton-DeKalb Hospital Authority, Atlanta, is searching for an investment consultant and/or investment manager for its $16 million endowment, a statement from the hospital authority said.
The authority issued an RFP to engage a potential consultant to “review the endowment, board designated and operating funds of the FDHA, and to advise on potential investment options,” the statement said.
The funds are a $16 million endowment, and “board-designated” funds and operating funds totaling $6 million. The board-designated funds are overseen by outsourced CIO Gray & Co. The firm is invited to rebid. The endowment does not currently have a consultant.
The authority might hire a separate consultant and manager or have an arrangement similar to the one with Gray & Co.
The RFP is available on the FDHA’s website. Proposals are due at 4 p.m. EDT on Oct. 17. A timetable for a decision was not provided.
Irene Borum, chief financial officer, would not provide any comment.