Florida Prepaid College Board, Tallahassee, is searching for at least one active fixed-income manager to run a total of $2 billion for the $11.6 billion Stanley G. Tate Florida Prepaid College Program, according to an invitation to negotiate posted on the state's procurement website.
The board is seeking "investment management services, employing an actively managed fixed-income investment portfolio using an immunized/liability-driven investment strategy," the ITN said. The current fixed-income manager is Columbia Threadneedle Investments, according to the board's website. Whether the firm is invited to rebid, and how many managers the board intends to hire, could not be immediately learned.
The ITN can be found on the state's procurement website. Proposals are due at noon EST on Jan. 17. A decision is scheduled for March.
Shannon Colavecchio, spokeswoman for the board, could not be immediately reached to provide further information.