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The city is seeking a firm to serve as investment advisor for approximately $40 million in assets.
The university will divest its endowment from investment funds that have direct fossil fuel exposure by 2030 after a student activist group occupied an administrative building for 18 days.
The plan approved the RFP at its board meeting last week.
The plan is looking for a firm to invest its portfolio assets, develop an investment strategy and policies, recommend investment-related changes and report and evaluate cash flows.
The department has issued an RFP seeking investment consultants to assist with vendor searches, review proposed fund lineups and maintain and practice a formal investment review process for its retirement plan.
The fund is conducting the search due to the Sept. 30 contract expiration of its incumbent manager, which is allowed to rebid.
The foundation is searching for more diverse-owned managers and impact investment strategies as part of a new strategic plan to eliminate longstanding inequities that have held back many communities.
Firm filled the newly created position with a former Northern Trust employee.
The plan first hired managers for the asset class in 2015.
The plan will not commit any additional capital to the program due to potential issues, including conflicts of interest and lack of transparency.