University of Illinois, Urbana-Champaign, is searching for an investment consultant for its $2.4 billion portfolio comprising endowment and operating funds, spokesman Thomas Hardy said.
The search is being conducted because of Aon Hewitt Investment Consulting's upcoming contract expiration. Aon Hewitt is invited to rebid.
The RFP is available on the Illinois Public Higher Education Bulletin's website. Proposals are due by 2 p.m. CST on Dec. 1. A hiring decision is anticipated in the next six months.
The university's $622 million endowment has a target asset allocation of 24% global equity, 20% fixed income, 14% U.S. equity, 10% each international equity and hedge funds, 8% private equity and 7% each farmland and core real estate.
The University of Illinois Foundation, Urbana, administers its own endowment.