Searches and Hires

Florida Prepaid College Board scouting for up to 4 money managers

Florida Prepaid College Board, Tallahassee, is searching for up to four money managers to run commingled investment products for the $13.6 billion Stanley G. Tate Florida Prepaid College Program, $600 million Florida 529 Savings Plan, $20 million Florida Prepaid Tuition Scholarship Program and $12 million Florida ABLE Savings Program.

The board, according to an invitation to negotiate posted on the state of Florida's purchasing website, is seeking at least one, and no more than four, money managers to provide access to active and passive commingled products "as each program may need from time to time." The ITN is for access to commingled products and "no funds are guaranteed under this procurement."

The ITN is available at the state of Florida's purchasing website. Responses are due at noon EDT on May 31. A decision is expected sometime in June.

Bert Wilkerson, director of finance, accounting and risk management, could not be immediately reached to provide further information.