University of Houston System is searching for a non-discretionary investment consultant for its $791 million endowment pool.
The system is seeking a consultant to advise the endowment management committee, according to an RFP on the Texas SmartBuy purchasing website.
The selected consultant would also advise other committees on the system's $282 million liquidity pool and $220 million cash pool.
The system issued the RFP because it is required to put the services up for bid every five years, according to a Q&A posted on the purchasing website.
Whether current consultant Cambridge Associates is invited to rebid could not be immediately learned, but the Q&A does note "the current advisor gives us all of the things we are looking for."
As of Dec. 31, the endowment pool's actual allocation was 22% each domestic equities and private investments; 17% international developed equities; 11% long/short equity; 10% fixed income; 9% absolute return; and 3% each cash and equivalents, emerging markets equities and inflation hedge.
The RFP is available on the Texas SmartBuy website. Proposals are due at 5 p.m. CDT on May 29. A timeline for a decision has yet to be determined.
Selene Cisneros, buyer for the system, could not be immediately reached for further information.
