University of Kentucky, Lexington, is searching for a custodian for its $2.3 billion endowment.
The university's investment committee, which oversees the endowment, is searching for a bank to provide master custodial services which includes custodial and brokerage services, liquidation brokerage and safekeeping services for securities donated to the university, according to an RFP posted on the university's website.
The RFP says current custodian Northern Trust is invited to rebid.
The endowment's target allocation is 64% global equities and 12% each diversifying strategies, global fixed income and real assets.
The RFP is available on the university's website. Proposals are due at 3 p.m. EDT on Aug. 10. A timeline for a selection was not provided.
Todd Shupp, chief investment officer, and Rebecca Purcell, university purchasing officer, could not be immediately reached for further information.