Gulf Coast State College Foundation, Panama City, Fla., hired FiduciaryVest as investment consultant, according to an intent to award notice posted on the BidNet Direct procurement website.
The $34 million foundation conducted the search as the result of a five-year fiduciary review, according to an RFP posted in May on BidNet Direct.
Incumbent consultant J.P. Morgan Chase & Co. was eligible to rebid, according to an addendum for the RFP. Foundation officials could not be immediately reached for further information on bidders and finalists.
As of March 31, the foundation’s actual allocation was 56.8% equities, 26.3% fixed income and cash, and 16.9% alternative assets.