University of West Florida Foundation Inc., Pensacola, will begin a search for an investment consultant in April or May.
The $110 million foundation's executive committee made the decision to go forward with an RFP process, according to March 10 board of directors meeting minutes.
A draft of the RFP is currently being written, and it's expected to be issued in April or May, with a selection expected sometime in the winter or spring of 2022.
The current consultant is Atlanta Consulting Group; whether the firm is invited to rebid was not available.
A reason for the RFP was not provided in the minutes, but the last time the foundation put the services up for bid was in 2015, and that RFP cited the foundation's policy of putting the services up for bid every five years. ACG was rehired at the time.
The university posts RFPs on its procurement website.
E. Jan Butts, foundation director, and Daniel Lucas, the foundation's chief financial officer, could not be immediately reached for further information.