Massachusetts Bay Community College, Wellesley Hills, Mass., is searching for a firm to provide outsourced chief investment officer services for its newly established $20 million endowment.
The college's board of trustees created the new endowment in order to invest assets for the long term to support the college's financial needs into the future, according to an RFP posted on the college's procurement website.
Assets are currently in cash and the college plans to begin the endowment with an asset allocation of 80% equities and 20% fixed income. The RFP also notes that alternatives are not a near-term objective given the current size of the endowment.
The RFP is available on the college's procurement website. Proposals are due at 11 a.m. EST on Jan. 25. A timeline for a selection has yet to be determined.
Lauren Curley, director of procurement and business operations, could not be immediately reached for further information.