RFP 26-03: Investment Management and Custodial for Pension and Other Post-Employment Benefit Assets

The City of Newark is seeking a qualified investment‑management firm to provide both investment management and master‑custody services for its defined‑benefit Employee Pension Fund and Other Post‑Employment Benefit (OPEB) Trust. The combined solution must include portfolio management, performance reporting, asset‑allocation recommendations, semi‑annual committee participation, and full custodial functions such as safekeeping, clearing, cash management, and detailed transaction reporting. Proposals must include fee structures (fixed and/or asset‑based), evidence of SEC registration, professional liability coverage, and a transition plan. The contract term is five years with three optional one‑year renewals, and the award will be made after a written‑proposal review (with possible in‑person presentations). • Scope: investment management (policy compliance, performance monitoring, committee support) and master custody (securities processing, reporting, cash handling). • Mandatory combined proposal – single‑vendor solution only. • Deadline for Notice of Intent: 09/30/2026; Questions due: 10/23/2026; Proposal deadline: 11/03/2026. • Evaluation criteria: technical capability (30 pts), cost (30 pts), investment performance (25 pts), experience (10 pts), value‑added services (5 pts). • Contract length: 5 years (Jan 1 2027 – Dec 31 2031) with up‑to‑three 1‑year extensions. • Required certifications: SEC‑registered adviser, insurance, Delaware business license, SAM registration if federally funded.