University of Kentucky, Lexington, is searching for one or more non-discretionary investment consultants for its $1.6 billion endowment.
The university is seeking at least one non-discretionary consultant to provide ongoing investment advice for its investment committee, according to an RFP posted on the university's website.
The RFP is "open to generalist consulting firms capable of providing all required services as well as specialist consulting firms capable of providing a subset of the services," the document shows.
Current consultant Fund Evaluation Group is eligible to rebid. The university’s investment committee in February 2020 voted to extend FEG’s contract by 2 years, expiring May 30, 2022.
As of Oct. 31, the endowment's actual allocation was 19.2% private equity, 15.5% domestic equities, 15.4% international equities, 14.1% diversifying strategies, 10.3% private real assets, 6.3% high-quality/rate sensitive fixed income, 5.7% hedged equity, 5.2% public credit, 5.1% public real assets, 3% private credit and 0.2% cash.
The RFP is posted on the university's website. Proposals are due at 3 p.m. EST on Feb. 16. Finalist presentations are tentatively scheduled for May 3, with a selection date not provided.
Todd Shupp, chief investment officer, could not be immediately reached for further information.