Virginia State University, Petersburg, is searching for a discretionary investment manager for its $80 million investment pool of endowment funds.
The university is seeking "investment advisory" services, according to an RFP posted on the commonwealth of Virginia's procurement website.
A Q&A included with RFP materials said the university is seeking discretionary services that are currently provided by Morgan Stanley and Spider Management.
The Q&A did not disclose how the firms' responsibilities are split or whether both are eligible to rebid.
The RFP is available on the commonwealth of Virginia's procurement website. Registration is required. Proposals are due at 3 p.m. EST on Nov. 12. A timeline for a selection was not provided.
University spokeswoman Gwen Williams Dandridge could not be immediately reached for further information.
