Miami Dade College, Miami, plans to hire CBIZ Investment Advisory Services as investment consultant for its $142 million community endowment, an intent to award posted on the BidNetDirect procurement website shows.
The college issued an RFP in March to check the market and verify it is receiving the best services and results available, said Roman Martinez, group director-purchasing, at the time.
In March, the endowment's actual allocation was 39.5% domestic equities, 28% international equities, 13.9% fixed income, 10.4% alternatives, 8.1% real estate and 0.1% cash.
The consultant would also advise on the college's $640 million in surplus operating funds.
Mr. Martinez could not be immediately reached for further information.