Tennessee Department of Treasury, Nashville, is searching for a custodian for the $49.5 billion Tennessee Consolidated Retirement System and other state funds, including three endowments.
The state is seeking a firm or firms to provide global custodian, securities litigation, cash investment, foreign-exchange and proxy-voting services, according to an RFP issued by the department.
The names of current providers and whether they are invited to rebid could not be immediately learned. State Street was hired as TCRS' custodian in 2014, the last time the services were put up for bid, supplanting incumbent custodian Northern Trust.
The chosen firm or firms will also provide services for the $463 million Tennessee Promise Scholarship Endowment, the $104 million Tennessee Chairs of Excellence endowment fund, and the $43 million Tennessee Baccalaureate Education System Trust, along with an other post-employment benefits trust and a separate state bond program.
The RFP is available on the state's procurement website. Proposals are due at 2 p.m. EST on Feb. 4. A decision is expected on March 15.
Shelli King, spokeswoman for state Treasurer David H. Lillard Jr., could not immediately provide further information.