Description
The Narragansett Bay Commission (NBC) is seeking an investment‑management firm to provide short‑term liquidity custodial services and capital‑proceeds advisory services for approximately $178 million of public assets. The work includes cash‑equivalent custodial management, investment advisory for debt‑issuance proceeds and commission securities, monthly transaction and performance reporting, compliance monitoring, and annual program reviews. The contract will run for an initial three‑year term with up to two one‑year renewals, and proposals must be submitted by early November 2026.
• Manage short‑term liquidity (≈ $11 M) to achieve a net yield at least 5 bps above the Ocean State Investment Pool while matching its risk profile.
• Provide non‑discretionary advisory for capital‑proceeds accounts (~$166 M), including broker‑dealer selection, transaction execution (NBC approval required within one business day), and compliance with Rhode Island investment statutes.
• Deliver monthly portfolio, transaction and performance reports, and an annual cash‑flow analysis with benchmark recommendations.