Carlow University, Pittsburgh, is searching for a discretionary investment consultant for its $32 million endowment.
According to an RFP posted on the university's website, the university is seeking a firm that "(takes) discretion over the assets, selects the investment managers, determines asset allocations (and) provides performance measurement reports for the portfolio on a quarterly and as-needed basis in accordance with investment policy objectives and guidelines."
The current consultant is A.J. Gallagher & Co. Whether the firm is invited to rebid could not be immediately learned.
The RFP is available on the university's website. Proposals are due at 5 p.m. EDT Aug. 16. Finalist interviews will take place during the weeks of Sept. 30 and Oct. 7, with a selection sometime later in October.
David J. Meadows, vice president for financial and administrative services and chief financial officer, could not be immediately reached to provide further information.