Grand Valley State University, Allendale, Mich., is searching for an investment consultant for its $124 million endowment fund.
The university's current investment consultant and the reason for the search couldn't immediately be learned.
Both non-discretionary consulting and discretionary OCIO services are being considered, according to the RFP.
The RFP is available on the university's purchasing website. Proposals are due at noon EDT on April 5. Finalists might be requested to make oral presentations of their proposal to the GVSU endowment investment advisory committee. Interviews are expected to be scheduled for May 1-15. A hiring decision date was not provided.
The endowment's current allocation is 51% public equity, 16% alternatives, 12% fixed income, 8% private equity, 8% public real assets, 3% private real assets and 2% cash. In October 2017, the committee approved a 30% target allocation to private equity (25% private equity/venture capital, 5% private real assets). The university expects it will take about six or seven years to build exposure to its target.