Delaware State University casts net for investment consultant for endowment

Delaware State University, Dover, is searching for an investment consultant for the university foundation's $31 million endowment fund, said Carlos Holmes, university spokesman.

The university is seeking a consultant that will provide ongoing review and compliance of the endowment's investment policy, manager search and selection, ongoing review and analysis of the asset allocation and spending policy analysis, the RFP said. Current consultant Goldman Sachs is invited to rebid, Mr. Holmes said.

The foundation's target allocation is 40.5% domestic equities, 24.9% international equities, 24.8% investment-grade fixed income and 9.8% other fixed income.

The RFP is available on the state's procurement website. Proposals are due at 3 p.m. EDT on May 8. A timeline for a decision has yet to be determined, but the contract start date is scheduled for Aug. 1.