ACT Investment Management Services

The Agency for Community Transit (ACT), a private, non-profit 501(c)(3) organization located in Illinois, is seeking investment management services for two distinct portfolios through a competitive solicitation (No. 25-2-14401). The procurement targets a qualified investment firm to manage a Non-Endowment portfolio valued at approximately $10,000,000 and an Endowment portfolio valued at approximately $15,000,000, with services beginning January 1, 2026. The selected vendor will be responsible for identifying, evaluating, purchasing, and selling investments on behalf of ACT, adhering to specific investment policies that prioritize safety, liquidity, and yield. Evaluation criteria will be ranked in order of importance: project approach, staffing/project manager, experience and qualifications, and price. The solicitation was posted on September 4, 2025, with proposals due by September 25, 2025, and an anticipated contract award date of October 13, 2025. The base contract term is 36 months, with the option to extend for two additional one-year periods, and proposals must remain valid for 90 calendar days from the final due date.

The solicitation establishes a 0% Disadvantaged Business Enterprise (DBE) goal, indicating no specific set-aside requirements for minority-owned businesses. No incumbent vendor is explicitly mentioned for the investment management services. Proposers must demonstrate at least five years of experience managing investment portfolios for non-profit organizations valued at $10M or more in Illinois, with comprehensive licensing for investment advisory services. Subcontracting is not permitted, and all assigned personnel must be independent from ACT. The contract includes extensive cybersecurity requirements, mandating compliance with NIST Cybersecurity Framework, multi-factor authentication, data encryption, and maintaining at least $5M in cyber liability insurance. While specific award values are not precisely defined, the total portfolio value approaches $25,000,000, with monthly invoicing and fee structures to be determined through negotiation. The procurement emphasizes strict compliance with federal and state regulations, including non-discrimination policies, equal opportunity guidelines, and various certification requirements for potential contractors.