Parker Ranch Foundation Trust, Kamuela, Hawaii, hired Northern Trust's foundation and institutional advisers division to provide outsourced CIO services for the $60 million trust.
An RFP was issued to eight firms in January, confirmed Parker Ranch Foundation Trust President and CEO Neil "Dutch" Kuyper in an email. "Our previous investment adviser worked with us for nearly 10 years and we were keen to see what the marketplace could offer us," Mr. Kuyper added. He declined to provide any additional details on who the previous service provider was or if it submitted a bid.
