2025-01-3100-INS-51195-005 - Investment Management Services - REQUEST FOR PROPOSAL

It is the intent of this RFP to solicit, on behalf of Lakeland College, proposals from Financial Institutions that are capable of providing the College with Investment Management Services.
The operational requirements, terms, and conditions stated in this Request for Proposal are as envisioned by the College at the time of writing but may change in the course of the evaluation and negotiation process. Should a contract be awarded as a result of this Request for Proposal, the expected agreement term is a maximum of three years with further extensions possible.
Lakeland College is seeking a Financial Institution which can provide the College with Investment Management Services within the framework below:
2.1 Lakeland College currently has funds in excess of operating needs, endowment funds, and related accumulated investment income to invest in accordance with the College’s Investment Policy (attached). The College currently invests approximately $50 million, split between an endowment portfolio ($15 million) and a non-endowment portfolio ($35 million). This amount is subject to change.
2.2 The primary investment criteria is the usage of fixed income instruments within policy to generate income and portfolio appreciation.
2.3 The institution chosen to provide Investment Management Services to the College will designate an Investment Manager. The Investment Manager will be a highly skilled and experienced leader in the investment management of financial assets and have experience working with non-profit organizations. The Investment Manager will offer comprehensive investment advice in the administration of the invested funds. The Investment Manager will work with College administration to ensure risk management reporting and audit requirements are met.
2.4 The Proponent shall work in conjunction with the Board of Governors and the Chief Financial Officer to:
a) specify objectives including various asset classes, sectors, geographic regions, ethical investment considerations, and specific investment vehicles.
b) propose an investment portfolio/strategy to achieve the objectives of the College while staying within the parameters of the Investment Policy.
2.5 Financial Institutions are invited to expand their response to this RFP to cover more features or extra performance provided that they meet the minimum specifications.