University of Kentucky, Lexington, is searching for a custodian for the school’s $1.2 billion endowment, said John Deans, purchasing officer for the university.
The search is being conducted because incumbent Northern Trust’s contract expires June 30. Northern Trust is invited to rebid.
The RFP is available on the university’s purchasing website. Proposals are due by 3 p.m. EDT on April 10. There is no targeted date for a hiring decision. The new contract will start July 1.
The endowment has a target asset allocation of 66% alternatives, 24% equity and 10% fixed income.