Opportunity
Redwood City Granicus #FIN-26-02
Redwood City Seeks Investment Advisory Services for $400M Municipal Portfolio
Posted
July 01, 2026
Respond By
August 14, 2026
Identifier
FIN-26-02
NAICS
523940
The City of Redwood City, Finance Division, is seeking proposals for professional investment advisory services to manage its $400 million municipal investment portfolio. - Government Buyer: - City of Redwood City, Finance Division, Office of the City Treasurer - Portfolio Details: - Approximately $400 million in assets - Investments currently include the Local Agency Investment Fund, San Mateo County pool, and a portfolio managed by PFM Asset Management LLC (a division of U.S. Bancorp Asset Management) - $293.5 million currently managed by PFM Asset Management LLC with a 4.22% yield at cost - Products/Services Requested: - Investment advisory services for portfolio management, compliance, credit analysis, reporting, broker/dealer management, and investment pool oversight - Excludes investments in fossil fuel-related industries - Emphasizes safety, liquidity, return on investment, and sustainability - Notable Requirements: - Proposers must be SEC-registered investment advisers - Minimum five years of experience serving public agencies - Must maintain specified insurance coverage - Must act as a fiduciary and not as a broker/dealer - Will not have custody of City funds or securities (separate custodian retained) - Current OEM/Vendor: - PFM Asset Management LLC (division of U.S. Bancorp Asset Management) - Contract Term: - Three years, with an option to extend up to June 30, 2031
Description
The City of Redwood City is seeking proposals from qualified firms to provide investment advisory services for its municipal investment portfolio, which averages approximately $400 million. The portfolio is currently invested in the Local Agency Investment Fund, the San Mateo County pool, and a diverse portfolio managed by an outside investment advisor. The city plans to maintain a smaller portion of its portfolio in the State and county pools for liquidity, with the balance managed by an independent investment advisor. The investment objectives are safety, liquidity, return on investment, and sustainability. Proposals are due by August 14, 2026, at 5:00 PM.