MCT Investment Management Services

Madison County Transit (MCT) is seeking investment management services through a competitive procurement process for Project No. 26-1-16001. The solicitation invites qualified investment firms to manage approximately $53,000,000 of MCT's investment portfolio, with responsibilities including identifying, evaluating, purchasing, and selling investment assets in strict adherence to the owner's investment policies. Key deliverables include monthly portfolio reports, biannual board meeting attendance, and proxy voting reports. Evaluation criteria will prioritize project approach, staffing, experience and qualifications, and pricing, with technical factors carrying more weight initially. The procurement timeline includes a Request for Quotes (RFQ) issued on September 9, 2025, a deadline for written questions on September 19, 2025, and a bid deadline of October 7, 2025, with an anticipated contract award on November 6, 2025. The base contract term will commence January 1, 2026, and expire after 36 months, with potential unilateral extensions by MCT for two additional one-year periods.

The solicitation establishes a 0% Disadvantaged Business Enterprise (DBE) goal, indicating no specific set-aside requirements for minority-owned businesses. Potential respondents must demonstrate at least five years of experience managing investment portfolios for local government units valued at $30M or more and be licensed to conduct investment advisory services in Illinois. The current incumbent for these services is Busey Bank, and the selected vendor will be required to coordinate service transition. Comprehensive insurance requirements include $1,000,000 for Commercial General Liability, $1,000,000 for Business Automobile Liability, statutory Workers' Compensation, $500,000 for Employer's Liability, $500,000 for Professional Liability, and $5,000,000 for Cyber Liability. While exact pricing is not specified, the contract indicates compensation will be based on actual services rendered, with monthly invoicing and electronic payment upon the owner's invoice approval.