Rowan University Foundation, Glassboro, N.J., is searching for an investment consultant.
The $228 million foundation is searching for a firm to provide services that include making tactical asset allocation and other recommendations to the investment committee and providing monthly performance reporting, according to an RFP posted on the university's website.
Which firm currently provides these services, and whether the firm is invited to rebid, could not be immediately learned.
According to the foundation's most recent available financial statement, the actual allocation of the foundation as of June 30 was: 33.1% domestic equities; 21% international equities; 14.2% absolute return; 12.1% each, domestic fixed income and private equity; 6.3% real estate; and 1.2% venture capital.
The RFP is available on the university's website. Proposals are due at 3 p.m. EDT on March 24. A timeline for a decision was not provided.
Joe Cardona, vice president for university relations; Rosie Braude Esposito, university spokeswoman; and Robert Yufer, professional service specialist; could not be immediately reached to provide further information.
