Knapp Community Care Foundation, Weslaco, Texas, hired Northern Trust Corp.'s foundation and institutional advisers practice to provide outsourced chief investment officer services, Yvonne "Bonnie" Gonzalez, the foundation's CEO, confirmed in an email.
The $121 million foundation had issued an RFP as part of its policy to put the services up for bid every five years, Ms. Gonzalez confirmed.
She declined to disclose the name of the incumbent firm or the names of finalists.
