Investment Advisory Services for the City of Cheyenne

The City of Cheyenne, Wyoming is soliciting proposals under RFP 2-27 from SEC-registered investment advisory firms to actively manage an investment portfolio of up to approximately $100 million, with written questions due December 11, 2026 at 5:00 p.m. and proposals due January 8, 2027 at 3:00 p.m. MST. Eligible proposers must be SEC-registered investment advisers with at least five years of experience managing public sector portfolios that hold fixed-income securities and diversified equities, and must demonstrate Wyoming registration compliance.

Proposers must also submit audited financial statements for the past three years, proof of bonding up to $5 million, current Form ADV filings, at least five references from similar governmental clients, cybersecurity and business continuity policies, and full disclosure of relationships with financial institutions or brokerage firms and all resulting compensation arrangements. Scope includes portfolio management under discretionary or non-discretionary authority, investment advice, securities execution, monthly and quarterly reporting, compliance certification, cash flow forecasting, and periodic presentations to the City's Investment Committee. The selected firm must hold City assets in a segregated custodial account and cannot take possession of or control City funds or securities.

The initial term is four years, with two possible one-year extensions, and the anticipated award date is March 2, 2027. The fee proposal must itemize asset-based fees, fixed annual fees, transaction costs, custody costs, trading spreads, consulting fees, and indirect compensation.

Evaluation uses a 100-point weighted scale: public sector client experience (20), investment team qualifications (20), investment philosophy and portfolio management approach (20), reporting capabilities and technology (10), Wyoming public funds knowledge and responsiveness (5), references (5), proposal quality (10), and cost (10). Cost is not the sole determining factor; the lowest fee receives maximum cost points, and other proposals score proportionately lower.

Technical and price proposals must be submitted as two separate PDF files through the City's OpenGov portal, with pricing excluded from the technical portion. Email and fax submissions are not accepted. Proposals must remain valid for at least 120 days. Addenda responses are due December 17, 2026 at 5:00 p.m., and City Council final approval is scheduled for February 22, 2027. Questions go to TJ Barttelbort, Purchasing Manager, at tbarttelbort@cheyennecity.org or (307) 773-1045. Submitted proposals become public records under the Wyoming Public Records Act unless the proposer marks specific information as proprietary or financial.