BC foundation investment oversight management services

The Broward College Foundation is seeking a qualified company for Investment Oversight Management Services through a Request for Letter of Interest (RLI) solicitation. The procurement targets a vendor to manage the Foundation's $139.6 million investment portfolio, with specific requirements for asset allocation management, including 35% Cash & Fixed Income, 55% Equity, and 10% Alternatives. The selected vendor must provide comprehensive investment management services, including custom benchmarks, monthly electronic statements, quarterly meeting attendance, and investment performance reporting. Key qualifications include a minimum of five years of experience managing similar-sized portfolios for non-profit institutions. The solicitation requires electronic submissions through DemandStar.com by 2:30 p.m. ET on May 20, 2025, with a proposed contract term of three years and potential for three additional one-year renewals plus a 180-day extension. The Foundation will employ a total return policy for permanently restricted endowments, with a spending rate of up to 4% of the three-year rolling average quarterly portfolio market value.

While specific set-aside designations are not explicitly detailed in the provided documentation, the solicitation appears to be open to qualified investment management firms with demonstrated expertise in non-profit portfolio management. The investment oversight contract does not specify incumbent vendors or existing technological infrastructure requirements. The current portfolio value of $139.6 million suggests a significant potential contract value, though exact budget ranges are not specified. The geographic scope encompasses Broward County and specifically includes the Fruitville CDP jurisdiction in Florida. Potential respondents should carefully review the Foundation's investment policy statement and be prepared to demonstrate their capability to manage a diversified investment portfolio with strategic oversight and performance reporting capabilities.