University of Reading (England) is searching for a money manager to manage the equity and bond portfolios of its £122 million ($148 million) endowment funds, according to a notice on European procurement website Tenders Electronic Daily.
The university is searching for a new manager partially to divest its portfolio from the most carbon-intensive fossil fuel companies, a spokesman said. It expects the new manager to favor businesses with long-term strategies that consider environmental and human rights issues, and equal opportunities.
The selected manager will also have the ability and expertise to help the endowment funds expand their allocation to private equity and infrastructure assets.
The university is also searching for investment advice services on a wider portfolio of its assets. Managers that offer investment advice services will earn 10% of the overall weighting in the final scoring.
The endowment funds’ current manager Sarasin & Partners LLP is eligible to rebid.
Proposals are due by noon British Summer Time on Sept. 26.