Searches and Hires

Texas A&M scouting for investment consultant

Updated with correction.

Texas A&M University System, College Station, is searching for an investment consultant for its $1.2 billion endowment fund, an RFP posted on a state procurement website shows.

The current consultant is LCG Associates; whether the firm is eligible to rebid could not be immediately learned. The chosen consultant will also serve the system's $4.5 billion cash concentration pool.

As of Sept. 30, the actual allocation of the endowment fund was: 20.8% domestic equities, 19.9% private equity, 18.7% international equities, 16% absolute return, 12.9% fixed income, 11.4% real assets and 0.3% cash and cash equivalents.

The RFP is posted on the Texas Smart Buy website. Proposals are due at 2 p.m. CST on Feb. 21. A timetable for a decision has yet to be determined.

Jeff Zimmermann, director of the system's office of HUB and procurement programs, could not be immediately reached to provide further information.