Project Information

Bid Title

Investment Manager Services

Issuing Agency

Cecil County

Location

Maryland

Published Date

Mar 13, 2025

Closing Date

Jun 17, 2025

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Project ID:

Title: Investment Manager Services

Addenda: 0

Release Date: 3/13/2025

Due Date: 6/17/2025

Post Information

Posted At:Thu, Mar 13, 2025 11:28 AMSealed Bid Process:Yes (Bids Sealed / Pricing Sealed)Private Bid:No

Overview

Summary

This Request for Proposals (RFP) is for one or more Investment Managers to manage several investment portfolios (“Accounts”). Generally, the Investment Manager will have broad authority to invest and liquidate assets of the portfolio, or a portion thereof. The Investment Manager shall provide periodic reports to the Account Trustees, to the Cecil County Department of Finance, and shall be available for Trustee meetings as requested by the Trustees.

Each Account may select one or more manager to invest and manage its portfolio.

Background

Cecil County is looking for investment managers in two areas that can be invested in appropriate long-term investments. These are:

• The Cecil County Maryland Non-Pension Post Employment Benefits Trust (OPEB)
  This is a legally separate pension Trust that is established to fund employees’ long-term healthcare benefits. Assets at June 30, 2023 exceed $5,000,000. As contributions exceed benefit payouts, liquidation of the investment portfolio is unlikely for twenty years.
• The Cecil County Maryland Landfill Closure Investment Account (Account)
  This is legally part of the County’s Solid Waste enterprise fund that is established under Maryland law (passed in 2016) to fund the Closure and Post-Closure costs of the County’s landfill. Assets at June 30, 2023 exceed $9,000,000. Closure of the landfill is not likely for at least forty years therefore the fund is expected to accumulate funds annually.

Cecil County also has a Pension Plan for Public Safety Employees (PSPP). This plan is not looking to change investment managers at this time and is not part of this proposal. The Plan may look at the success of this RFP in deciding whether or not to initiate an investment manager search in the near future.

Timeline

Release Project Date:

March 13, 2025

Question Submission Deadline:

May 19, 2025, 3:00pm

Proposal Submission Deadline:

June 17, 2025, 12:00pm

Completion of Evaluations:

July 28, 2025

Selection & Proposal Clarification :

August 11, 2025

Anticipated Award:

September 3, 2025

Commodity Codes

• NAICS 523930Investment Advice

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