Wyoming State Loan and Investment Board, Cheyenne, rehired RVK as investment consultant, a notice on the board’s website said.
The board issued an RFP in April because of the pending expiration of RVK’s contract on June 30 and state law requiring services be put up for bid every four years.
RVK’s new one-year contract begins July 1. Five firms bid for the services; there were no other finalists.
The board will issue an additional RFP later this year for a full four-year contract term.
The one-year contract “would allow the new board members, Secretary of State Edward Murray and Superintendent of Public Instruction Jillian Barlow, sufficient time to become more familiar with the state investment program” before an RFP for a longer contract is issued next year, according to a memo in April from board member and Wyoming state Treasurer Mark Gordon.
RVK again will be invited to rebid.
The Wyoming State Loan and Investment Board oversees the $6 billion Permanent Mineral Trust Fund, $2.8 billion Common School Permanent Land Fund and five other funds. The board also oversees $5.5 billion in state operating funds, which by state law invest in only cash and fixed income.
Mr. Gordon did not return phone calls by press time; Cathy Lujan, spokeswoman for the office of state lands and investments, referred questions to Mr. Gordon.