New York City Economic Development Corp. is searching for an investment manager and custodian for the Seaport Museum Sustainability Fund.
The corporation is expecting to receive $40 million to establish the fund, along with any interest earnings received by the city from the sale of transferable development rights from a proposed real estate project at 250 Water St. in Lower Manhattan.
According to the RFP posted on its website, the corporation has agreed with the Seaport Museum New York to form NYCEDC LLC upon the receipt of funds, and a five-member advisory board will be formed and have the responsibility of selecting the investment manager and custodian. The selected manager will report to the museum's investment committee.
The NYCEDC is seeking a single firm for the services.
The RFP is available on the NYCEDC website. Registration is required. Proposals are due at 11:59 p.m. EST on Nov. 10. A selection is expected sometime in November.